XRP Faces Potential Double Top, Signaling Possible Price Decline
- Peter Brandt identifies a potential double top pattern on XRP’s weekly chart, with peaks near $3.40 and $3.66.
- The critical support level is marked at $2.00, with XRP trading below this at around $1.8859.
- Trader Cryptollica notes the weekly RSI for XRP is approximately 33, historically a bottoming zone indicator.
Brandt’s analysis suggests that if the double top pattern confirms by breaking below the neckline at $2.00, XRP could see further declines toward a target of around $0.40 based on classical charting techniques.
Currently trading at $1.83, XRP must reclaim the $2.00 level to avoid confirming a bearish breakdown and potentially shift momentum back to bullish territory if the pattern fails to hold as predicted.
