Ripple triangle pattern under development

The price of Ripple dropped in the short term as Bitcoin retreated a little. Now, the altcoin stands above a support zone. XRP/USD dropped by 9.61% from Monday's high of 0.4090 to 0.3697 Saturday's low.

It has changed little in the short term. Most likely, traders are waiting for a BTC/USD strong move before taking action on altcoins. In the last 7 days, the altcoin was down by 6.53% and by 0.01% in the last 24 hours.

As you can see on the H4 chart, the rate dropped after retesting the descending pitchfork's upper median line (uml). The price action developed a triangle pattern and now it stands above support of 0.3686.

In the short term, the rate could extend its sideways movement. Escaping from the current triangle could bring great opportunities.

False breakdowns below 0.3686 may announce a new bullish momentum towards the upper median line (uml). A valid breakout through the upper median line (uml) activates a larger growth.