The outlook for Ripple’s XRP is both positive and negative, with analysts highlighting bullish and bearish patterns. According to prominent, self-proclaimed market wizard Peter Brandt, a head-and-shoulders pattern has formed on the XRP daily chart. 

The formation hints at a potential drop in price value, and according to the analyst, XRP could drop to lower levels of $1.07 or $1.90 in the near term. A break below the $3 price level weakened the H&S model, and a continuous consolidation in price could result in a massive 55% drop in price value.

“Updating a chart for those interested, I have no vested interest up or down. XRP is forming a textbook H&S pattern. So, we are now range-bound. Above 3.000 I would not want to be short. Below 1.9 I would not want to own it” he wrote in a post shared to X. 

Conversely, market analyst Javon Marks sees a more favorable outcome in the near term. According to his assertion, a trend reversal is in view, courtesy of XRP’s price and relative strength index (RSI) breaking through a descending wedge.

“XRP’s Price and RSI has BROKEN OUT TO THE UPSIDE! The last breakout resulted in a roughly +570% price increase and prices can be ready for another substantial surge.” He asserted.

XRP is trading for $2.17 at the time of this report. Down 2.31% from its all-time high of $3.84, XRP has lost 7% of its value over the past 24 hours. Weekly losses have yet to be cleared, and XRP has emerged as the highest loser today.

The outlook for Ripple’s XRP is both positive and negative, with analysts highlighting bullish and bearish patterns. According to prominent, self-proclaimed market wizard Peter Brandt, a head-and-shoulders pattern has formed on the XRP daily chart. 

The formation hints at a potential drop in price value, and according to the analyst, XRP could drop to lower levels of $1.07 or $1.90 in the near term. A break below the $3 price level weakened the H&S model, and a continuous consolidation in price could result in a massive 55% drop in price value.

“Updating a chart for those interested, I have no vested interest up or down. XRP is forming a textbook H&S pattern. So, we are now range-bound. Above 3.000 I would not want to be short. Below 1.9 I would not want to own it” he wrote in a post shared to X. 

Conversely, market analyst Javon Marks sees a more favorable outcome in the near term. According to his assertion, a trend reversal is in view, courtesy of XRP’s price and relative strength index (RSI) breaking through a descending wedge.

“XRP’s Price and RSI has BROKEN OUT TO THE UPSIDE! The last breakout resulted in a roughly +570% price increase and prices can be ready for another substantial surge.” He asserted.

XRP is trading for $2.17 at the time of this report. Down 2.31% from its all-time high of $3.84, XRP has lost 7% of its value over the past 24 hours. Weekly losses have yet to be cleared, and XRP has emerged as the highest loser today.