XRP is showing a classic Head and Shoulders reversal pattern, which has now broken down below the neckline, indicating a potential bearish continuation.
🔻 Bearish Structure Highlights:
The head and shoulders formation is well-defined and price has confirmed a neckline break.
The breakout is occurring within a descending channel, aligning with the broader bearish context.
Momentum oscillator (DTosc) is also turning down after a lower high, supporting the bearish case.
📉 Targets:
First target: 1.83580
Extended target: 1.61184
🔴 Invalidation Zone:
A daily close above the right shoulder and key resistance at 2.3589–2.4829 would invalidate this bearish view and signal potential reversal.
📌 Trade Plan:
Favoring short setups below the neckline
Targeting the support levels noted above
Stop-loss suggested above 2.48 for conservative risk control
The setup offers a clean risk/reward opportunity based on a textbook bearish reversal pattern.
🔻 Bearish Structure Highlights:
The head and shoulders formation is well-defined and price has confirmed a neckline break.
The breakout is occurring within a descending channel, aligning with the broader bearish context.
Momentum oscillator (DTosc) is also turning down after a lower high, supporting the bearish case.
📉 Targets:
First target: 1.83580
Extended target: 1.61184
🔴 Invalidation Zone:
A daily close above the right shoulder and key resistance at 2.3589–2.4829 would invalidate this bearish view and signal potential reversal.
📌 Trade Plan:
Favoring short setups below the neckline
Targeting the support levels noted above
Stop-loss suggested above 2.48 for conservative risk control
The setup offers a clean risk/reward opportunity based on a textbook bearish reversal pattern.
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