XRP on the Edge: Is a Massive Crash Coming or Will Bulls Defy the Charts?

XRP, the fourth-largest cryptocurrency by market capitalization, is showing signs of continued bearish pressure. A developing head and shoulders pattern on the daily chart has raised concerns among traders and analysts over a potential decline.

The cryptocurrency expert Ali explains that XRP is now creating the last segment of its developing head and shoulders pattern. The pattern indicates that the price could fall to $1.29 if the neckline verifies.

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A breakout above $3 would defeat the pattern which would turn sentiment toward bullish direction according to Ali as he said on Twitter. XRP faces additional price drops because the bullish pattern has not triggered its breakout.

Peter Brandt who has been trading for many years pinpointed this same pattern in his analysis. The formation represents a classic head and shoulders pattern in his opinion while the price may reach $1.07 in case support from the neckline breaks down.

At the time of writing, XRP had dropped nearly 7 percent in the last 24 hours, trading at $2.22. This marks the fourth consecutive day of losses since reaching highs above $2.50 on March 24.

Key Support and Resistance Levels Under the Spotlight

The $1.90 level remains a critical support zone for XRP in the short term. This level has been tested three times since November 2024 and continues to act as a key threshold.

A price fall below $1.90 on any daily chart will endorse the chart pattern while intensifying selling activity. The price holding above this level would provide bulls an opportunity to take over if momentum strengthens.

The $2.50 zone maintained its essential position throughout the previous four months. The price level has generated backing and blocking behavior from traders before establishing itself as a determinative XRP resistance point.

Analysts stress the importance of watching price movements around $3. A successful close above this level would not only nullify the head and shoulders pattern but may also reignite bullish sentiment across the XRP market.

Conclusion

XRP’s technical structure continues to show signs of weakness, with the head and shoulders pattern gaining traction among analysts. With key support levels under threat and a clear invalidation point set at $3, traders are closely watching XRP’s next moves as volatility persists.

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