According to technical analysis, XRP is approaching a key support level around $2, where a potential breakout of the head and shoulders (H&S) pattern could trigger a major downtrend.
XRP Nears Important Peak Pattern, Potential Breakout Could Target $1.07
The head and shoulders pattern is a classic reversal pattern that consists of three peaks, with the highest peak in the middle. A break below the (destek seviyesi) of the "neckline" usually signals a transition from bullish to bearish momentum.
For XRP, the $1.90-$2.00 range has been acting as a key demand zone since January. A drop in prices below this zone would confirm a breakout and potentially cause XRP's price to drop towards $1.07.
Veteran trader Peter Brandt warns that a confirmed crash could halve the price of XRP based on the measured method of movement. This technique calculates the potential drawdown by subtracting the distance from the top of the pattern to the (baş) neckline by (yaklaşık 2 dolar) from the breakout point.
On the upside, XRP bulls need to reclaim $3.00, which marks the early March low, to invalidate the bearish pattern.
Broader market conditions, including tariff-related risk-off sentiment, could accelerate a move lower for XRP. If the overall crypto market remains under pressure, a break of this key support could become even more likely.
Traders are currently keeping a close eye on the $2 level, as a break below this level could confirm a bearish trend reversal and open the door to a sharp decline towards $1.07.
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XRP is approaching the level where a head and shoulders (H&S) pattern could be triggered! Here is the Critical Data
According to technical analysis, XRP is approaching a key support level around $2, where a potential breakout of the head and shoulders (H&S) pattern could trigger a major downtrend.
XRP Nears Important Peak Pattern, Potential Breakout Could Target $1.07
The head and shoulders pattern is a classic reversal pattern that consists of three peaks, with the highest peak in the middle. A break below the (destek seviyesi) of the "neckline" usually signals a transition from bullish to bearish momentum.
For XRP, the $1.90-$2.00 range has been acting as a key demand zone since January. A drop in prices below this zone would confirm a breakout and potentially cause XRP's price to drop towards $1.07.
Veteran trader Peter Brandt warns that a confirmed crash could halve the price of XRP based on the measured method of movement. This technique calculates the potential drawdown by subtracting the distance from the top of the pattern to the (baş) neckline by (yaklaşık 2 dolar) from the breakout point.
On the upside, XRP bulls need to reclaim $3.00, which marks the early March low, to invalidate the bearish pattern.
Broader market conditions, including tariff-related risk-off sentiment, could accelerate a move lower for XRP. If the overall crypto market remains under pressure, a break of this key support could become even more likely.
Traders are currently keeping a close eye on the $2 level, as a break below this level could confirm a bearish trend reversal and open the door to a sharp decline towards $1.07.