📊 XRP has confirmed a head-and-shoulders (H&S) pattern on the 4-hour chart, signaling a potential 14% decline. The neckline at $2.33 was broken during early May 19 trading, triggering a bearish signal.
📉 If XRP fails to reclaim $2.33, the next supports lie at $2.25 (200-day SMA) and the pattern target at $2.00. Analyst @EgragCrypto warns that holding $2.30 is “a must” to avoid further downside.
📉 Open Interest has dropped by 18% to $4.49B in just five days, showing waning trader confidence. Meanwhile, $12M in long positions were liquidated in the past 24 hours, versus only $1.4M in shorts.
📈 Despite the price dip, daily trading volume surged 70% to $4.1B — a sign of intensifying bearish momentum or strategic repositioning by traders.
⚠️ All eyes are now on $2.00 – a break below could deepen the correction. Reclaiming $2.33 is key for bulls to regain control.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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