Analyst Spots XRP Inverse Head and Shoulders Pattern, Predicts 15% Rally
2025-07-05 11:40:11
Main Idea
Analyst Ali identifies an inverse head and shoulders pattern in XRP's price chart, predicting a potential 15% rally to $2.65 if the pattern is confirmed.
Key Points
1. The analysis is based on the XRP/USDT perpetual contract on Binance, with XRP trading near $2.29 at the time.
2. The neckline resistance is at approximately $2.33, and a breakout above this level could trigger an upward move.
3. Fibonacci extension levels suggest potential price targets at $2.47, $2.54, $2.64, and $2.74, with $2.65 being the primary target.
4. The pattern formed after a decline to $1.90 (the head) and subsequent rebound, indicating bullish potential.
5. Confirmation of the breakout would depend on volume and momentum indicators.
Description
Crypto market analyst Ali has shared a new technical chart analysis for XRP, noting the development of a classic inverse head and shoulders pattern. According to his post, the pattern suggests the potential 15 percent price breakout, targeting the $2.65 level if confirmed. The chart attached to his commentary illustrates key levels of resistance and Fibonacci retracement levels, outlining the technical basis for his outlook. Analysis of Current Price Action Ali’s chart is based on the XRP/USDT p...
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