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The last XRP price raised a new prediction of an encryption analyst, as a possibility Head and shoulder pattern It appears on the graph. The analyst warns that this technical composition can lead to a great correction of the prices of XRP, describing this stagnation as the worst scenario.
The analyst predicts the collapse of the XRP price to $ 1.15
“The Planned Man”, a formerly X TV (Twitter). unveil Create a potential head style and shoulder on XRP price graph. The analyst shared visions in the effects of this technical style, with a show a Possible collapse in the price of XRP.
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As a known reverse style, the formation of the head and shoulder in the XRP price scheme indicates a potential transformation from the bullish direction to the declining direction. Usually, the head and shoulder pattern consists of three peaks: the left shoulder, the head and the right shoulder. However, his planned man certain The formation of the current style of XRP consists of a suitable shoulder and one head. Because of this violation, the analyst expressed doubts about the possibility of playing the style.
If the head and shoulder pattern is at the end, this may lead to a file A significant decrease in the XRP priceIt is likely to drop to a decrease of up to $ 1.15. This price level is in line with the key Golden pocket retreat area Fibonacci Between 0.618 – 0.786.
It is worth noting that the analyst has described the collapse of the expected price as The worst scenario for XRP. Although he believes that the descending step is possible, the analyst is confident that the budget market structure of XRP is upward.
Moreover, the planned man argues that if XRP decreases to $ 1.15, it is likely to serve as a health decline in the overall upward direction. He pointed out that the price of XRP was Keep the level of $ 2 On the daily closure, which means that his basic work is still strong higher than support levels. This also indicates the possibility of resuming the upward trend that can result in its highest level and its highest level in XRP.
The main support and resistance levels of viewing
The drawing man’s analysis of the formation of the head and shoulder pattern of XRP highlights many critical price levels of viewing. Since XRP closed a daily candles above $ 2, the analyst has set this level as short -term support.
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XRP also sparkled during the last decline in a decisive range between $ 1.7 and $ 1.9. As a result, the encryption analyst revealed that he will closely monitor this area The potential price is bounce.
It ranges between $ 1.15 and $ 1.30. If XRP suffers from a deeper prices correction, Low support levels A mark has been placed from $ 1.19 to $ 0.91.
she has Resistance levelsThe planned man set $ 2.27 as a major price point. In addition, $ 3.14 – $ 3.32 was set as a higher resistance range where XRP can collect if you resume bullish momentum.
Distinctive image from Medium, Chart from TradingView.com
