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The XRP price is at a critical crossroads, with a 30% correction looming if a well-known bearish chart pattern plays out. After months of wild price swings, a Head-and-Shoulders pattern has formed—one of the most notorious sell signals in technical analysis.
What Does the Head-and-Shoulders Pattern Mean?
A Head-and-Shoulders pattern consists of three peaks, with the middle one (the “head”) towering over the other two (the “shoulders”). The key support level—known as the neckline—acts as the make-or-break point for price action.
If this neckline is broken, the resulting drop could match the previous rally size. In XRP’s case, the neckline sits at $2, and a confirmed breakdown could trigger a 24% decline, potentially sending XRP crashing to $1.50.
Will XRP Break Down?
A bearish breakdown doesn’t necessarily mean an instant crash—prices often retest the neckline before making a decisive move. If XRP fails to show strong bullish momentum at this retest, the $1.50 target becomes increasingly likely.
But there’s an alternative scenario!
If XRP finds support at the neckline and holds above $2, it could regain bullish confidence and keep the uptrend intact. However, if $2 fails to hold, the next strong support lies at $1.50, making another leg down possible.
Can XRP Defend the $2 Neckline?
Despite bearish warnings, XRP has seen a massive 500% rally in recent months, giving it some breathing room before a correction kicks in. However, if the price slips below $2, bulls could lose control, and the long-awaited XRP breakout rally could be in jeopardy.
For bullish traders, the $2 level is the key battleground—if they can hold the line, XRP might still have a shot at continuing its upward trajectory. But if support crumbles, brace for impact, because the next stop could very well be $1.50!
