XRP Price Reversal Signals Emerge After Double Top Pattern
XRP price on the daily chart has formed a clear double top pattern near resistance, triggering a bearish reversal signal. After failing twice to break above the $0.56–$0.58 zone, XRP price turned down, confirming the double top and signaling potential further declines. Key technical indicators reinforce the bearish outlook: the Relative Strength Index (RSI) slipped from overbought territory, while the MACD line crossed below the signal line. Near-term support sits around $0.50; a breakdown here could accelerate selling pressure toward $0.45. Conversely, any recovery above $0.56 would invalidate the bearish pattern and open the way to $0.60. Traders should monitor XRP price action around these levels to manage risk and adjust positions accordingly.
Bearish
The emergence of a double top pattern on the daily XRP chart aligns with classic bearish reversal signals observed in past market cycles. When XRP price failed twice near the $0.56–$0.58 resistance, it mirrored similar reversals seen in other altcoins, where RSI pullback from overbought and MACD crossovers confirmed selling momentum. In the short term, breaking the $0.50 support could trigger accelerated declines toward $0.45, as stop-loss orders cascade. Long-term traders should watch for a break above $0.56 to invalidate the pattern and resume bullish momentum toward $0.60 or higher. This mixed outlook underscores cautious positioning: bears dominate current sessions, but bulls may reemerge if key resistance is reclaimed.