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The price of XRP rose 1% in the last 24 hours to trade at $2.1947 as of 11:16 p.m. EST on Monday on trading volume that fell 27% to $3 billion.

This comes as the XRP Ledger saw burns hit 4,000 XRP on Monday, the highest in the past 10 days.

The price of the token, used on the Ripple (NYSE:RPL) network, recently fell to lows of $1.99, testing the Fib support level of $1.988.

However, the price action shows signs of breaking slightly upward from the triangle’s resistance line, which could hint at a potential bullish breakout despite the bearish structure.

Importantly, the price of XRP remains above both the 50-day and 200-day Simple Moving Averages (SMAs), suggesting that the broader trend still leans bullish for now.

The Relative Strength Index (RSI) is at 54.05, reflecting neutral momentum but leaning slightly bullish as it trends above 50.

Meanwhile, the MACD shows a bullish crossover, with the MACD line above the signal line and green histogram bars building, suggesting increasing bullish pressure.

If the XRP price confirms a breakout above the descending triangle, a move toward the $3.30 range could be expected, representing a potential gain of around 49%.

Source: Tradingview

However, there is need to remain cautious, as descending triangles often resolve to the downside, and a failed breakout could lead to a retest of the $2.00–$1.99 support area.