The XRP Price Chart Flashes Inverse Head and Shoulders Pattern That Could Trigger a Rise to $3.9

XRP has fallen 4.7% in the past 24 hours, continuing the high volatility pattern that has shaped much of March. However, in the context of this decline, some see an opportunity, with a notable analyst identifying an interesting reversal pattern that could reverse the trend towards a bullish trajectory. Inverted Head and Shoulders Pattern Appears on XRP Chart XRP has extended its fall from $2.47 in the past 24 hours. Specifically, XRP has decreased by 13.8% in the last three days and it currently seems like it could easily fall below $2.10. Cryptocurrency analyst Egrag Crypto has used the social media platform X to highlight what he calls the “highest probability inverse head and shoulders” pattern currently unfolding on the daily timeframe of XRP. This pattern, which has developed since early March, is now in the final stage of forming the second shoulder. Therefore, this phase may still witness a short-term decline, as XRP is likely to fall back to complete the structure of the second shoulder before a bullish breakout. If confirmed, the head and shoulders reversal will lead to a strong bullish reversal, which will be very important considering the recent price pullback of XRP. According to Egrag Crypto, the measured move from the completion of this formation could push the price into the range of $3.7 to $3.9.

Analysts say XRP could reach an all-time high in 90 to 120 days. The inverted head and shoulders pattern is part of the bullish outlook suggesting that the price of XRP could reach a new all-time high within the next 90 to 120 days. This prediction, also made by Egrag Crypto, is based on the repeating pattern observed in the Relative Strength Index (RSI) of XRP during previous bullish markets.

He pointed out that during the cycles of 2017 and 2021, the RSI indicator on XRP exhibited two distinct peaks, with the second peak occurring approximately 90 to 120 days after the first peak. The second RSI peak in 2017 occurred about 120 days after the first peak. A similar scenario occurred in 2021, although the gap between the first and second RSI peaks was shorter, only 90 days. This trend set the stage for a historic bullish surge that could align with the breakout from the current inverted head and shoulders setup. As of now in this cycle, XRP has completed its first RSI peak, reaching a high of 85.17 at the end of 2024. After that, the RSI underwent a prolonged cooling period, falling to a low of 65. At the time of writing, the RSI is at around 66 and is expected to recover from here, peaking around June.

RSI usually increases when the market participates more, capital flows in, and prices rise. If this trend occurs again in the next 90 to 120 days, the RSI of XRP may peak again around June. At the time of writing, XRP is trading at $2.12, down 4.7% in the last 24 hours.