The price of XRP continues to lag behind the broader cryptocurrency market this week, despite a rally in multiple altcoins spurred by Bitcoin’s ascent to $88,800.
XRP 1-day chart.
Over the last week, XRP has dropped by 4.7%, halting the momentum from an 11% increase noted on March 19, when news of the favorable resolution in Ripple’s SEC lawsuit made waves. Additionally, XRP’s trading volumes have plummeted from approximately $4 billion to $2.6 billion, reflecting a 35% decline in just one week.
XRP price hangs over a precarious edge
In a recent post, experienced trader Peter Brandt observed that a “textbook” head-and-shoulders pattern could potentially drive XRP’s price down to $1.07.
XRP head-and-shoulders pattern by Peter Brandt.
Brandt noted that a price surge above $3 could negate the head-and-shoulders pattern. However, a decline below $1.90 could trigger a potential 55% correction. He stated,
“Below $1.9, I wouldn’t want to hold it. The head-and-shoulders projects to $1.07. Don’t shoot the messenger.”
Conversely, trader Javon Marks pointed out a bullish breakout for XRP. He suggested that both the price and the relative strength index (RSI) have maintained positions above their respective falling wedge patterns.
XRP analysis by Javon Marks.
Historically, such patterns have indicated favorable reversals for the altcoin, and Marks remarked,
“The last breakout led to approximately a +570% increase, and we might be on the verge of another significant rally.”
Related: Eager for altcoin season? Data indicates it may already be underway.
XRP’s correction forecast could be premature
From a technical point of view, predicting a drop back to the $1.07 level seems premature given XRP’s current market dynamics. While XRP has been on a downward trajectory since early 2025, the $1.90 mark has only been tested three times since November 2024.
XRP 1-day chart.
Since XRP broke above the $2 threshold, it has not recorded a daily close below that level, suggesting that investors might see this range as a potential buying opportunity.
Furthermore, spot market volumes have been a major contributing factor to XRP’s recent price increase, signaling ongoing investor enthusiasm for the altcoin over recent months.
Dom, an order flow markets analyst, emphasized that the coming weeks will be crucial for XRP to determine a definitive trajectory. He added that the current market range does not capture his interest and stated,
“We need to see clear breaks of the levels I outlined. Just be mindful of the next week or two, as the price action will offer insights.”
XRP order-flow analysis by Dom.
The key level for XRP to reclaim remains at $2.50, as it has acted as a significant support and resistance point throughout the past four months of price activity.
Related: Bitcoin price has just broken a three-month downtrend as a ‘key shift’ begins.
This article does not offer investment advice or endorsements. All investments and trading activities carry risks, and readers should conduct their own due diligence before making decisions.