The cryptocurrency market remains under bearish pressure, with Ethereum plunging from its December high of $4,000 to $1,884. This broader correction has weighed on altcoins, though XRP has shown relative resilience, dropping just 3,13% in the past 90 days. However, technical indicators suggest a deeper decline could be ahead.

Head and Shoulders Pattern Signals Risk

XRP is currently trading within a bearish Head and Shoulders pattern on the daily chart, signaling potential downside. The right shoulder rejection near $3,00 led to a break below the 100-day moving average, bringing XRP to a crucial support zone between $1,91 and $2.25. This area has historically triggered rebounds, and holding above it could invalidate the bearish setup.

If XRP breaks below the $1,91–$2,25 range, it could confirm a bearish breakdown, with the next major support at $1,61, aligning with the 200-day moving average. A rebound from current levels, however, could shift momentum, opening the door for recovery. Additionally, Bitcoin’s retest of $76,000 could influence broader sentiment and XRP’s price action in the coming days.