$XRP ’s rally might be coming to a halt — a classic reversal pattern is forming on the 4H chart, and trader interest in futures is rapidly declining. What does this mean for the price?
➡️ Technical Signal: "Head and Shoulders"
🟡 The pattern has formed since May 9 — three peaks, with the center higher than the two sides.
🟡 The break of the neckline at $2.33 confirmed the reversal #signal .
🟡 The first target is $2.25 (the 200-day moving average), and the second is $2.00 (down 14% from the current level).
If the price fails to hold above $2.30, a wave of selling is expected — warns analyst Egrag Crypto. In this case, #xrp could drop to $2.15, and then possibly to $1.60.
➡️ Futures Signal Alarm
🟡 Over the past 5 days, open interest in XRP has decreased by $1 billion (-18%).
🟡 $12 million in longs were liquidated within 24 hours — nearly 10 times more than shorts.
🟡 Trading volumes have increased by 70%, while the price dropped by 3% — a worrying sign: sellers are becoming more active.
📌 Conclusion: XRP is on the edge — the "head and shoulders" pattern has technically played out, and the market shows signs of weakness. If the bulls cannot push the price above $2.30, the next key support level is $2.00.
Buy and Trade $XRP here