In the midst of the broader coding market, XRP broke less than an important support zone identified by many traders as pivotal. In a scheme shared by Josh Olzwich encryption analyst during his last update on YouTube, the distinctive symbol shows a clear break under the Ichimoku cloud on the daily time frame, with the price position now under $ 2.00 handle. This step also places XRP under the neck line for the head and shoulders.
How low the price of XRP?
Olzwich Describe The chart style indicates as “head and shoulder chaos – the Frankstein monster”, which indicates that although the composition may not be a head of the textbook and the shoulders, its general structure is very similar to a classic reflection. The left “shoulder” was formed around the $ 2.90 region in early December 2024, the “head” near the peak of $ 3.41, and the right “shoulder” at approximately $ 3.00.
As the price continues to decrease, the complete violation of the neckline area is below $ 2.00 on the possibility of extending the meaningful negative side. According to Olszewicz, XRP is now “less than $ 2, less than VPVR support, below the range”, with the possibility of a decrease less than $ 1.50 this week, the momentum should be overpowered and sellers follow the pattern that was seen in many other altcoins in recent weeks.
“It will not shock me at all if we see everything swinging and XRP is $ 1.50 this week. It will not shock me at all. It has been better placed than most of the dress, but this is what the sellers will do here just as it seized most of the alternative charts.”
Fibonacci’s main levels of Olszwaicz provide an additional perspective on potential support and resistance points. The decline 0.5, which indicates about $ 2.60, is currently higher than the market and may act as a large barrier if XRP tries to restore the land.
Meanwhile, the extension hovers 1.618 to about $ 1.42, and the extension of 2.0 can from $ 1.16 can turn into if the momentum continues to prefer the bears and the head and the shoulder is completely operated.
Jesse Colombo, another encryption analyst, has Weighs On X with a more landfill perspective. Colombo suggests that the head and shoulders structure, if it is completely operated, may “drown [XRP] Along the way to 0.60 cents in complete relaxation of autumn gathering. “
The sharp contradiction with that view is the position of Credbull Crypto, which too subscriber Although he admits the last slip under support, he describes him as more likely to deviate or “wrong deviation” less than $ 1.80 than the real collapse in the market structure.
It claims that XRP may conclude less than $ 1.80 for a short period, just to recover its foot shortly and resume a wider upward trend. In its evaluation, the decrease to $ 1.80 will not necessarily be a sign of inherent weakness, as long as XRP can restore this level relatively quickly and bypass instant resistance groups.
“I don’t expect a collapse to less than $ 1.80, I expect a deviation below- also known as a false or fake breakdown below before the next stage. This will not be a sign of weakness if we visited $ 1.80 in a basic travel,” he writes.
At the time of the press, XRP was traded at $ 1.76.
