Technical Indicators Suggest XRP May Be Forming a Top, With $1.07 Emerging as a Critical Support Level

XRP Tests Pivotal Support as Head-and-Shoulders Pattern Signals Possible Drop to $1.07

XRP is hovering near a crucial support range around $2, a level that could determine whether the cryptocurrency enters a deeper downtrend. The asset is forming a potential head-and-shoulders pattern, a technical setup that often signals a reversal from bullish to bearish territory.

This classic formation is marked by three peaks — with the middle being the highest — and a neckline that currently sits between $1.90 and $2. If XRP breaks below this neckline, it would confirm the pattern and imply a significant downside ahead.

According to renowned chartist Peter Brandt, the breakdown could trigger a drop to around $1.07. The forecast is based on a common technical approach where the height of the pattern is subtracted from the neckline support to project the target.

XRP bulls, however, still have a chance to regain momentum. A breakout above the $3 resistance — the lower high from early March — would negate the bearish setup and suggest continued upward potential.

Until then, all eyes remain on the $2 level, as market volatility driven by global trade tensions adds further uncertainty to the outlook.