Ripple is under downside pressure after the third-largest cryptocurrency broke through major trendline support last week.
Ripple analysis shows that the cryptocurrency could fall towards the $0.1600 support level over the short term.
Ripple medium-term price trend
Ripple is back under pressure over the short and medium term, following the broader cryptocurrency market sell-off last weekend.
Ripple technical analysis shows that the cryptocurrency has moved back below the neckline of a large head-and-shoulders pattern on the daily time frame.
The bearish pattern is still indicating that further medium-term losses remain possible, as it has yet to reach its overall downside projection.
The recent heavy technical rejection from the neckline of the head-and-shoulders pattern, around the $0.2100 level, is another bearish medium-term sign.
It is also noteworthy that XRP/USD pair has suffered numerous technical rejections from its 200-day moving average.
Ripple short-term price trend
Ripple technical analysis over the short term shows that the cryptocurrency is bearish while price trades below the $0.2100 level.
The four-hour time frame shows that a bearish breakout from a rising price channel has taken place.
Looking more closely at the channel, the breakout remains valid while price trades beneath the $0.2100 level.
Traders should note that a bearish head-and-shoulders pattern is starting to take shape on the lower time frames, following the recent drop towards the $0.1760 level.
Sustained losses beneath the $0.1760 level could trigger losses towards the $0.1200 support level.
Ripple technical summary
Ripple technical analysis shows that the cryptocurrency is starting to turn bearish over the short and medium term. Sustained losses below the $0.1760 level could trigger heavy losses in the XRP/USD pair.