XRP is struggling to sustain bullish momentum despite Ripple recently finalizing its legal battle with the U.S. Securities and Exchange Commission. The cryptocurrency, now trading at $2.36, has fallen over 4% in the past week, signaling persistent selling pressure even after the SEC dropped its multi-year lawsuit.
Market sentiment remains tepid, highlighting traders’ preference for technical indicators over legal developments. XRP, ranked fourth by market capitalization at $137.1 billion, is showing signs of weakening bullish conviction.
Technical Analysts Signal Caution for XRP
Veteran chartist Peter Brandt has warned traders of a developing head-and-shoulders (H&S) pattern on XRP’s daily chart. If confirmed, Brandt projects a drop to $1.07—an alarming 55% decline from the current price.
“Above $3.00, I wouldn’t short. Below $1.90, I wouldn’t hold. The neckline is crucial,” Brandt emphasized.
MartyParty, another respected analyst, supports Brandt’s bearish scenario, anticipating a retracement to approximately $1.60 based on the H&S structure.
Yet, confirmation hinges on XRP closing below the critical neckline at $1.90. Until this occurs, the bearish projection remains speculative.
Peter Brandt targets $1.07 if neckline breaks.
H&S pattern needs daily close below $1.90 to confirm.
XRP still trades above its 200-day moving average.
Could XRP Defy the Pattern?
Despite prevailing bearish sentiment, some analysts argue the potential collapse could be avoided. XRP is holding above the 200-day moving average, a factor that could negate the H&S formation and trigger bullish momentum.
Technical analyst Ali Martinez suggests XRP might even target $5 should it break to the upside instead. Dark Defender similarly points to a bullish breakout from a long-term consolidation phase and Fibonacci targets that support positive price action.
Currently, XRP price action is indecisive. A symmetrical triangle on shorter timeframes indicates volatility ahead. Traders should closely watch immediate support at $2.32, resistance at $2.42, and particularly the neckline level at $1.90 for clearer signals.
Bullet Summary
XRP down 4.12% despite Ripple’s legal win vs. SEC.
H&S pattern targets $1.07 if neckline at $1.90 breaks.
Price coiling inside triangle; breakout could shift bias.
Daily Technical Outlook: XRP/USD – March 27, 2025
XRP/USD remains pressured near $2.36 after failing to hold above the $2.39 pivot. The pair consolidates above a rising trendline active since mid-March; breaking below could target supports at $2.32 and $2.27. Resistance sits at $2.42 (50 EMA), $2.43, and triangle resistance at $2.48.
The RSI at 39.27 signals weak momentum. Traders should await a decisive breakout below $2.32 or above $2.42 for clearer direction.
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The post Peter Brandt Says XRP Could Drop 55% – Can XRP Avoid a Full-Blown Collapse? appeared first on Cryptonews.
