XRP Faces Possible 20% Price Decline Amid Mounting Pressures

XRP (XRP) is currently facing increasing technical and fundamental pressures that could potentially lead to a 20% price decline in the near future. Based on recent market analyses and historical patterns, investors should pay attention to three key signals. The XRP/USD price chart is showing a symmetrical triangle formation on the weekly chart, indicating a struggle between buyers and sellers. Contrary to popular belief, symmetrical triangles do not always result in bullish continuation patterns and can lead to significant declines. The recent White House Crypto Summit on March 7 caused XRP's price to drop as optimism faded about its inclusion in a US strategic crypto reserve, leading to a 10% decline in the XRP market. Additionally, Bitcoin is gaining favor from the Trump administration, with the US holding approximately $17.7 billion in BTC, while XRP remains in a historical distribution zone against BTC. XRP's trading volumes have surged to record levels, indicating a distribution phase where large holders are offloading positions to retail buyers after a major rally, similar to patterns seen in 2021. The decline in XRP whale holdings further reflects distribution, with whale balances dropping from 94.21 billion to 90.21 billion XRP in a year.