For seven years, XRP price has been trading within a clearly defined range, as indicated by the green arrows. Taking long or short positions from those areas would have proven to be profitable.
Over the past two years, the price has been moving within an uptrend channel. However, the channel support has recently failed, confirming a bearish trend (marked by the red arrow).
This failure comes after a double top formation in price action, where the market structure broke in April 2022 (indicated by the orange arrow).
The next support level to watch is at 30 cents, now that the price...
