The XRP price scheme destroys the head/reverse shoulders can lead to a height of $ 3.9
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The price of XRP has decreased by 4.7 % over the past 24 hours, and has continued High fluctuation pattern That has identified a lot of March. Amid this decline, however, Some see the opportunityWith one of the famous analysts identifying an interesting reflection pattern that can turn the tide into an upper path.
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Reverse head and shoulder pattern appears on the XRP chart
XRP has Reinforced extending Run from $ 2.47 to the past 24 hours. The particles, XRP has currently decreased by 13.8 % in the past three days and now it seems that it can easily break to less than $ 2.10.
Egrag Crypto Take to The X social media platform to highlight what he called a “most likely head and shoulders” pattern is currently revealing the daily time frame of XRP. The pattern, which has been developing since early March, is now in the final stages of the formation of the second shoulder. As such, this stage may still see the negative side in the short term, as XRP is likely to decline to complete the second shoulder structure before the outbreak.
If confirmed, the reverse head and the shoulders will lead to a strong upward reflection, which is It will be important Looking at the recent decline in XRP. According to Egrag Crypto, the size of the completion of this composition can send the price to a price range ranging between $ 3.7 and $ 3.9.
The analyst says that XRP may reach the highest level in 90 to 120 days
The reverse head and shoulder analysis is part of the upscale view that indicates that the price of XRP can reach the highest new level ever in 90 to 120 days. This prediction, It was also made before Egrag CryptoIt depends on a repeated pattern observed in the relative strength index of XRP (RSI) across the previous bull markets.
He pointed out that during the 2017 and 2021 sessions, the RSI index on XRP showed two distinct summits, with the second peak between 90 to 120 days after the first peak. The peak of the second relative power index occurred in 2017 after about 120 days of the first peak. A similar scenario occurred in 2021, although the interval between the highest levels of the first and second RSI was shorter in just 90 days. This trend paves the way for a historical height that can be in line with the collapse of the current opposite head and the preparation of the shoulders.
To date in this course, XRP has already completed the first peak in the relative strength index, Access to the high Since 85.17, near the end of 2024. After that, the relative strength indicators were on the long slowdown stage, overwhelmingly overwhelmed. At the time of writing this report, the relative strength index is about 66, and it is expected to bounce from here, which reaches its climax at some time in June.
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RSI usually rises with an increase in market sharing and capital flow and The movement of upward prices. If the trend is turned on again within 90 to 120 days, RSI from XRP may reach the peak again in June. At the time of this report, XRP is trading at $ 2.12, a decrease of 4.7 % over the past 24 hours.
Distinctive image from Gemini Imagen, the tradingvief chart
