- XRP Builds Momentum Near Inverted H&S Neckline
- Bulls Eye $3.14 as XRP Holds Above Key Support
- Price Compression Hints at Imminent XRP Breakout
XRP has remained in a tight trading range, with price action showing signs of consolidation above key support levels. Market participants are monitoring the formation of an inverted head and shoulders (H&S) pattern, which may suggest a possible upside breakout toward $3.14 if confirmed.
Pattern Formation and Price Structure
According to an observation by crypto analyst Ali, XRP has maintained structure following a V-shaped recovery from the April low of $1.613. The current formation on the daily chart resembles an inverted head and shoulders pattern, with the neckline positioned near the $2.10 resistance level.
Price recently peaked at $2.59 before stabilizing around $2.08. On the one-hour chart, XRP opened at $2.043 and reached a high of $2.098 before pulling back. This setup, combined with lower trading volume, signals market indecision, yet maintains bullish potential if the neckline is breached with volume.
On the four-hour chart, XRP remains constrained between $2.035 and $2.10, forming a broadening formation. Price rejections near $2.10 have been consistent, and bulls must overcome this level for confirmation of the pattern. The daily chart shows smaller candle bodies and reduced volume, which suggests a pause following recent volatility.
Momentum and Technical Indicators
Momentum indicators remain mixed. The RSI is near 47, and the Stochastic Oscillator stands at 72.30, indicating a neutral stance. The Average Directional Index is at 21.08, showing weak trend strength, while the MACD presents a mild buy signal at −0.04377.
Short-term exponential and simple moving averages around $2.07 suggest mild support. However, mid-range moving averages like the EMA (20) at $2.09 and EMA (30) at $2.13 still reflect uncertainty.
The 200-period EMA and SMA on the daily chart continue to support long-term upward movement, standing at $1.96 and $1.93, respectively.If price breaks above $2.10 with sustained volume, analysts suggest a measured move toward $3.14, based on the projected height of the inverted H&S formation.
