NewsBTC

27 March 2025

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Veteran Analyst Identifies Head & Shoulders Pattern in XRP Chart

Market analyst Peter Brandt provided a technical analysis of XRP/USDT, highlighting a potential Head & Shoulders (H&S) pattern on the daily chart. Key points include:

• The H&S formation indicates a possible price retracement to around $1.07.
• XRP's price surged from below $0.50 in late October to over $3.40 by mid-January 2025.
• The current trading zone features a support level at $1.90 and resistance between $2.90 and $2.99.
• A break below $1.90 could signal bearish momentum, while a rise above $3.00 may encourage bullish activity.
• Brandt notes that his analysis does not reflect any personal investment in XRP.
• As of now, XRP is trading at $2.35.

The convergence of moving averages at $2.44 suggests muted momentum, with the 30-day Average True Range (ATR) indicating reduced daily price swings. A decisive move beyond key levels could lead to increased volatility.