Key takeaways:
XRP forms a double top and rising wedge, signaling short-term downside risk toward $1.94.
NUPL indicates traders are in denial, resembling past pre-crash phases.
Long-term charts still point to bullish targets between $3.69 and $17.
XRP (XRP) has rebounded by more than 50% in a month after forming a local low at $1.80. Improving risk appetite and prospects of an “altseason” have boosted its price.
Could XRP rally further from current levels or risk a pullback in the coming days? Let’s examine.
XRP “double top” pattern hints at sell-off
XRP formed a double top near $2.65, signaling a possible trend reversal. The pattern includes two clear peaks and a neckline around $2.47. After the second peak, XRP dropped below the neckline, confirming the bearish setup.
XRP/USD four-hour price chart. Source: TradingView
A confirmed breakdown below this level points to a downside target near $2.30. The