NewsBTC

7 March 2025

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XRP Trading at $2.60 as Head and Shoulders Pattern Emerges

XRP is currently priced at $2.52, balancing bullish momentum with potential bearish reversal risks. Analyst Josh Olszewicz shared an Ichimoku chart indicating a possible Head and Shoulders formation. A break above $2.85 could alleviate bearish concerns.

Key Highlights

• XRP rallied from approximately $0.48 in mid-October 2024 to a peak of $3.40 by early 2025.
• Current price level near the Conversion Line (Tenkan-Sen) at $2.4750 and Base Line (Kijun-Sen) at $2.5749.
• The Ichimoku Cloud indicates bullish support as long as XRP stays above it, with Senkou Span A at $2.57 and Senkou Span B at $1.94.
• A failure to surpass $2.85 may confirm the Head and Shoulders pattern, while a drop below $2.0 could signal further selling pressure.
• Olszewicz notes that the Kijun-Sen at $2.5749 serves as a key pivot, acting as both support and resistance.

As of now, XRP is trading at $2.60.