- XRP confirms a classic head-and-shoulders formation, signaling bearish continuation below the $2.00 support zone.
- The neckline now acts as strong resistance after a failed retest, further weakening the asset’s short-term outlook.
- Chart analysis suggests potential decline toward $1.30–$1.40 range if the pattern continues to hold structure.
XRP has repeated a familiar bearish formation on its daily chart, signaling renewed pressure on the digital asset. XRP displayed a traditional head-and-shoulders pattern that typically leads markets to decrease their values properly. XRP remained stable when the price mark at $2.00 was tested multiple times. The decisive drop through the neckline ended up confirming the pattern to resolve into a complete head-and-shoulders formation.
Following the breakdown, XRP attempted a technical retest of the neckline, a common occurrence after such patterns. This level, which previously acted as support, now presents resistance. The asset failed to reclaim the neckline, and price action turned lower once again, with XRP closing near $2.076. This rejection reinforced the bearish setup and suggests ongoing downside momentum.
Bearish Target Range Defined
Analysts tracking the pattern point to a projected move based on the distance from the head to the neckline. This puts the potential target in the $1.30 to $1.40 range. While these projections are not exact, the structural integrity of the pattern remains intact. If XRP continues to trade below the neckline, the bearish outlook is expected to persist.
Despite brief attempts to reclaim higher ground, XRP’s failure to sustain a move above key resistance reflects underlying weakness. The neckline continues to hold as a barrier, and the recent price action has confirmed its role as a new resistance level. Trading volume during the failed retest was not significant, further dampening bullish hopes.
Traders have reacted to the recurring pattern by adopting a cautious approach. This is not the first time XRP has faced a similar technical setup, which adds to the current market sensitivity. The asset remains under close watch as historical moves tied to such patterns have often resulted in sustained downward trends.
