XRP price at risk of 50%+ correction if bearish trading pattern holds — Peter Brandt
A bearish head and shoulders trading pattern, if completed, could kick off a 55% drawdown in XRP price.
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.
