XRP has been on a rollercoaster this year, reaching a new all-time high before reversing most of its gains.
The price trades at a key support level, a breakdown below which could further accelerate the crash.
Let’s examine the charts and see what lies ahead in September.
The XRP price broke out from a diagonal resistance trend line in July and hit a new all-time high price of $3.66.
However, the price could not sustain its upward movement.
On the contrary, it has fallen by nearly 25% since, breaking down from the $3 horizontal area, which was likely to provide support.
Even though XRP fell below $3, it trades above the previous diagonal resistance, which it has validated twice (green icons) until now.
As long as it is trading above this level, the price should begin a bullish trend reversal and reclaim $3 before moving to new highs.
If that happens, the XRP price could hit a new all-time high of $4.47, reaching the 1.61 external Fibonacci retracement resistance level.
On the other hand, a breakdown below the diagonal level could cause a quick dump to the next closest support at $2.

Momentum indicators lean bearish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) generated bearish divergences (orange) at the all-time high.
The RSI is almost below 50 while the MACD has made a bearish cross (black circle). So, the XRP prediction leans bearish, with a breakdown below the diagonal trend line more likely than a reclaim of the $3 level.
The daily time frame analysis leans bearish for several reasons.
Firstly, XRP has traded inside a descending triangle since its all-time high.
The descending triangle is considered a bearish pattern, so an eventual breakdown from it is likely.

A downward movement that travels the entire pattern’s height would take XRP to $2.
Momentum indicators agree, since the RSI and MACD are both falling and have crossed into bearish territory.
The weekly and daily time frames align, suggesting that a breakdown below the $2.75 support area is the most likely future outlook.
The only hope for the bulls is given by the wave count, which shows a possible fourth wave pullback.
As it stands, the XRP price could still be in the fifth and final wave of its upward movement, though a breakdown below $2.69 will invalidate this.

However, the chances of this movement transpiring are becoming lower each day since there are no other bullish signs suggesting this is the most likely outcome.
Hence, a breakdown and decline to new lows is much more likely than a breakout to new highs.
While there’s still a slim chance for a bullish reversal, the charts suggest that XRP’s momentum is fading fast.
A breakdown below the $2.75 support zone could trigger a sharp decline, potentially dragging the price closer to $2.
Unless bulls step in soon, XRP may be gearing up for another September crash.