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XRP (XRP) price continues to underperform the broader crypto market this week, even though multiple altcoins turned green as Bitcoin (BTC) rallied to $88,800.
XRP 1-day chart. Source: Cointelegraph/TradingView
The altcoin is down 4.7% over the past seven days, putting a pause to the 11% rally seen on March 19, when the Ripple’s SEC “lawsuit ending” news made headlines. XRP trading volumes have also dropped from around $4 billion to $2.6 billion, i.e., a 35% dip over the past week.
XRP price peers over a steep cliff
In a recent X post, veteran trader Peter Brandt said the presence of a “textbook” head-and-shoulders pattern (H&S) could drop XRP price as low as $1.07.
XRP head-and-shoulders pattern by Peter Brandt. Source: X.com
According to Brandt, a price rally above $3 could invalidate the H&S pattern. However, a drop below $1.90 opens up the possibility of a 55% correction. Brandt said,
On the contrary, Javon Marks highlighted a positive breakout for XRP. The cryptocurrency trader indicated that XRP’s price and the relative strength index (RSI) have both traded above their falling wedge patterns.
XRP analysis by Javon Marks. Source: X.com
Historically, such a setup has proven to be a profitable turnaround for the altcoin, and Marks said,
Related: Waiting for altcoin season? Data suggests it’s already here
XRP correction call could be premature
From a technical perspective, it’s a bit early to predict a retest of the $1.07 level based on XRP’s existing market structure. Although XRP has been in a downtrend since the start of 2025, the $1.90 level has only been tested three times since November 2024.
XRP 1-day chart. Source: Cointelegraph/TradingView
Since XRP traded above the $2 level, it has not experienced a daily close below the threshold, suggesting that investors may view this range as a potential buy-back zone.
Furthermore, spot market volumes have been the primary driver behind XRP’s recent rally, indicating sustained investor interest in the altcoin over the past few months.
Dom, an order flow markets analyst, noted that the next couple of weeks could be vital for XRP to establish a clear direction. The analyst mentioned that the current range does not capture his interest and said,
XRP order-flow analysis by Dom. Source: X.com
The important level for XRP to reclaim remains $2.50, which has been a critical support and resistance throughout the last four months of price action.
Related: Bitcoin price just ditched a 3-month downtrend as 'key shift' begins
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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