XRP Price Analysis: Drop to $1.50 Looms if This Bearish Pattern Plays Out

Key Takeaways

• XRP trades inside a head and shoulders pattern.
• The price risks breaking down from its neckline.
• How much will the XRP price fall if it breaks down?
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Last week, Ripple announced positive news by partnering with Chipper Cash to improve cross-border payments in Africa.

Then, an unusual  TV glitch displayed the XRP price at $21,355, creating confusion since the price of the rest of the cryptocurrencies was accurate.

While the XRP price has been unaffected by these events and trades in the same four-month pattern, it trades at its neckline, risking a significant breakdown that could confirm XRP’s bearish trend.

With that in mind, let’s analyze the charts and see if XRP’s volatility will return in April.

XRP’s Bearish Pattern

The XRP price has created a head and shoulders pattern since December 2024.

The head-and-shoulders pattern is bearish, leading to breakdowns most of the time.

If this is the correct pattern, XRP is finishing the pattern’s right shoulder and risks a breakdown from its neckline.

Technical indicators are bearish. The Relative Strength Index (RSI) failed to move above 50 and is falling.

Similarly, the Moving Average Convergence/Divergence (MACD) made a bearish cross (black circle) and is negative.

So, the daily time frame suggests the XRP price will break down from its pattern.

If that happens, the closest resistance will be between $0.90 and $1.05.

A breakdown that travels the entire pattern’s height would also lead to this target.

Has XRP’s Cycle Ended?

The long-term XRP chart and wave count also give bearish predictions.

An ascending parallel channel contains the XRP price movement since 2020, a sign it is corrective.

The channel contains a completed A-B-C correction (green), where wave C was almost the same length as wave A.

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However, wave C failed to reach the channel’s resistance (black circle), a sign of weakness.

Technical indicators also support this bearish outlook. The RSI and MACD generated bearish divergences (orange), catalyzing the downward movement.

If the breakdown occurs, XRP could reach the channel’s midline at $1.50. A breakdown below the midline could take XRP to the support trend line at $0.60.

Why is XRP Dropping?

The XRP price gives bearish signals in multiple time frames.

The long-term movement suggests the cycle is over, while the short-term hints at a breakdown.

If one happens, the XRP price could initially fall to $1.50 and eventually $0.90-$1.05.