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The XRP price has dropped by 4.7% in the last 24 hours, continuing High variability pattern This defined many March. Among this inheritance, however Some see the opportunityWith one popular analyst identifying an captivating reversal pattern that can change the tide into a stubborn trajectory.
The opposite head and shoulder pattern appears on the XRP chart
XRP has expanded his decline Run from USD 2.47 to the last 24 hours. Partial, XRP has now dropped by 13.8% in the last three days and now it looks like it can easily break below USD 2.10.
Crypto Analyst Egrag Crypto he took to Social media platform X, to emphasize what he called “most likely the opposite head and shoulders”, which is currently developing in everyday frames of XRP. The pattern, which has been developing since the beginning of March, is currently in the final stages of creating a second arm. Therefore, this phase may still see a further brief -term disadvantage, because XRP potentially submerges again to complete the structure of the second arm before the breakthrough rally.
If this is confirmed, the reverse head and arms would lead to a mighty stubborn reversal, i.e. Will be significant Given the last withdrawal of XP prices. According to Egrag Crypto, the measured traffic from the end of this formation could send the price to the price range from 3.7 to 3.9 USD.
The analyst claims that XRP can reach the highest time in 90 to 120 days
The opposite head and shoulder analysis is part of a stubborn perspective that suggests that the price of XRP can reach a modern level of all time in the next 90 to 120 days. This forecast, also made by Egrag CryptoIt is based on a repeated pattern observed in the relative XRP (RSI) force indicator in previous bull markets.
He pointed out that during the 2017 and 2021 cycles, the RSI indicator on XRP showed two separate peaks, with the second peak between 90 to 120 days after the first summit. The second RSI peak in 2017 took place about 120 days after the first summit. A similar scenario took place in 2021, although the distance between the first and second RSI hills was shorter after only 90 days. This trend is a scene for a historical growth that could even out with a breakthrough from the current opposite configuration of the head and shoulders.
Until now, in this cycle, XRP has already completed its first RSI peak, reaching so high Like 85.17 at the end of 2024. After that, RSI was in a long phase of renewal, immersing itself at a low level of 65. At the time of writing, RSI is about 66, and hence the reflection is expected, which has a peak around June.
RSI usually grows with the augment in market share, the influx of capital and stubborn price movement. If the trend is revived again in the next 90 to 120 days, RSI XRP can reach the peak again around June. At the time of writing, XRP trades $ 2.12, which is a 4.7% decrease in the last 24 hours.
A distinguished picture from Gemini Imagen, chart from TradingView
