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NewsBTC 2025-03-02 12:30:26

XRP Price Bubble Burst? This Pattern Suggests Imminent Drop To $1.1

The XRP price has remained afloat in 2025 despite the uncertain market condition where several large-cap assets have floundered. However, the altcoin did little to absorb the bearish pressure that hit the market over the past week. According to data from CoinGecko, the price of XRP has declined by nearly 16% in the last seven days. A popular crypto analyst on social media platform X revealed that the altcoin’s woes might just be about to begin. Here’s How XRP Is At Risk Of 50% Plunge In a March 1 post on X, crypto pundit Ali Martinez put forward an interesting projection for the XRP price, saying the fourth-largest cryptocurrency is at risk of significant downward pressure in the near future. Martinez suggested that the value of XRP could be almost halved over the next few weeks. Related Reading: Bitcoin Fills CME Gap Between $78,000 and $80,000 – Is A Reversal Around The Corner? This bearish forecast revolves around the formation of the head-and-shoulders pattern on the XRP chart on the 12-hour timeframe. The head-and-shoulders formation is a technical analysis pattern marked by three distinct swing highs, including a higher “head” between two lower “shoulders.” This chart pattern signals a possible trend reversal; usually a shift from an uptrend to a downward price trend. This trend reversal can be confirmed when the asset price breaks down beneath the neckline, which is a trendline connecting the troughs (swing lows) between the head. As shown in the above chart, the XRP price recently found support at the neckline around the $2 area before bouncing back toward $2.2. The price of XRP appears to be making a U-turn for a return to the neckline. If the altcoin does return, successfully breaches, and closes beneath the neckline, investors could see a shift to a downward trend. In the head-and-shoulders formation, the price target is calculated by subtracting the height of the pattern (vertical distance between the head and the neckline) from the breakout point. Based on this strategy, the price of XRP could target the $1.1 mark (roughly 50% decline from the current price point) if it breaks below $2. It is worth noting, though, that a strong 12-hour candlestick close above the $2.8 level would invalidate the current bearish outlook for the XRP price. Ultimately, if the XRP token reclaims $0.8, it could resume its bullish run and make a run for new highs in this cycle. XRP Price At A Glance As of this writing, the price of XRP stands around $2.17, reflecting a 1% increase in the past 24 hours. Related Reading: Bitcoin Nears $76,000 Target Amid Price Correction — But Will This Support Hold? Featured image from iStock, chart from TradingView

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