XRP News Today: XRP Faces Bearish Momentum as Peter Brandt Identifies Head and Shoulders Pattern

Market veteran Peter Brandt has identified a potential head and shoulders pattern on the weekly XRP chart, highlighting the factors that could trigger a bearish momentum. XRP is currently at a critical juncture following a significant drop linked to global tensions. The broader crypto market experienced a downturn when the United States conducted airstrikes on several nuclear facilities in Iran, intensifying the ongoing conflict between Iran and Israel.

Currently, XRP is trading around $2.03, a fragile position. Veteran trader Peter Brandt noted a possible Head and Shoulders (H&S) pattern on the one-week chart, a structure that often signals a shift to bearish momentum. Brandt identified the sharp dip to $1.61 on April 7 as an anomaly caused by heightened volatility rather than part of the pattern. Removing this outlier, the H&S structure appears more intact and consistent.

The pattern began forming at the end of last year. The left shoulder formed in December 2024 when XRP hit $2.9 and corrected. The head formed in January 2025 during a higher surge to $3.4. The right shoulder formed during the rise to $2.65 in May 2025. A solid horizontal neckline sits at $1.875, and XRP is currently trading just above this level. Brandt emphasized that this does not automatically mean the price will drop. However, he plans to re-evaluate his stance if XRP closes below the $1.80 range on the weekly chart, which could confirm the pattern and invite deeper losses.

Several indicators suggest the market is in a state of indecision. For instance, the 8-week and 18-week exponential moving averages have flattened and now run close together, indicating fading momentum. The ADX, which tracks trend strength, sits at a soft 16.41, well below the threshold for a strong trend. Meanwhile, the Average True Range reads 0.486, indicating that volatility has cooled down. When price action tightens like this, it often leads to a significant move in either direction.

As XRP maintains this position, multiple analysts are discussing its potential direction. CryptoInsightsUK focused on the liquidity building up around $1.87 and predicted that XRP might dip slightly below that level to shake out weak hands. He mentioned that if XRP dropped as low as $1.72, it could present an ideal buying opportunity. At the same time, he urged traders to watch the liquidity sitting above current levels, suggesting that any upward move from here could trigger a strong rally.

In an earlier report, analyst EGRAG said XRP successfully tested a major support zone, which he calls the “white box” during the latest downward push. EGRAG sees this development as a bullish sign. He presented two likely paths: either XRP continues correcting or it bounces toward new highs. He also warned that if XRP fails to reclaim the $2.08 level, it could slide to $1.90 or even $1.77. If the market turns more bearish, $1.47 might serve as the next key support level.