xrpcrashed

💥 Key Points:
XRP’s inverse cup-and-handle pattern risks a drop toward $2.40 if $3.00 support fails.
RSI fractal suggests a potential correction to the 50-day EMA near $2.75.
Realized price near $2.40 may act as a magnet if bearish momentum continues.
$XRP has undergone a modest correction in recent days, dropping by about 15% from its multiyear highs at around $3.66. The Ripple-associated cryptocurrency is now flashing signs of further price drops, owing to multiple indicators.
💥 XRP Hints at 20% Price Correction
XRP’s price is forming an inverse cup-and-handle pattern, raising concerns of another sharp drop.
The pattern—marked by a rounded top followed by a weak rebound—typically signals trend exhaustion and potential breakdown.

As of July 29, XRP trades near $3.13, forming a shaky “handle” just above the neckline support near $3.00. However, the pattern has not confirmed a breakdown, which would occur only if price decisively closes below this key level.
If that happens, the technical target—calculated by measuring the depth of the cup—points toward $2.40, nearly 25% lower than current levels. That downside projection aligns closely with the 200-period EMA, adding confluence to the bearish case.
Momentum is already weakening, with XRP’s RSI hovering near 42.5, indicating growing selling pressure. Unless bulls reclaim control and break the handle’s upper trendline near $3.25, XRP may be staring at another leg down.
💥 XRP RSI Fractal Hints at Correction Toward 50-Day EMA
A notable RSI fractal offers a final clue to XRP’s immediate downside risk. The daily relative strength index has maintained an ascending trendline support since the October 2024 breakout.
In three previous instances, a breakdown below this trendline preceded sharp corrections of 21%–35%, each time bottoming around or slightly below the 50-day EMA.

As of July 29, XRP’s RSI is once again testing this crucial trendline. If history rhymes and the RSI decisively breaks below support, XRP could revisit its 50-day EMA near $2.75.
That implies a roughly 12% drop from current levels—modest relative to earlier declines, but significant if it triggers further bearish momentum.
💥 XRP Realized Price Suggests Room to Fall
Glassnode’s XRP realized price chart adds weight to the bearish thesis.
The realized price—a metric reflecting the average cost basis of all XRP in circulation—currently sits near $2.40. Historically, this level has acted as a magnet during major drawdowns, particularly when technical patterns break to the downside.

With XRP’s spot price still hovering well above its realized price, a breakdown from the inverse cup-and-handle pattern could trigger a mean-reversion move toward this level.
In prior cycles, similar divergences between price and realized value often resolved with a retest of the latter, especially during periods of waning momentum.
If XRP revisits its realized price in the coming weeks, it could offer long-term investors a high-conviction re-entry point, but not before short-term pain plays out.

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