Peter Smith
⬤ XRP is setting up for a potential breakout after forming a textbook inverse head and shoulders pattern on the one-hour chart. The setup shows clear structure across all three components—left shoulder, head, and right shoulder—without any messy wicks or false breakouts. Right now, XRP is trading around $2.175, sitting just below the neckline that marks the key resistance level.
⬤ The pattern has been developing smoothly over several days, with each section forming distinct rounded shapes that show consistent buying behavior. The neckline sits at a horizontal resistance zone, and technical projections point toward a potential move into the $2.40-$2.60 area if XRP pushes through with strength. So far, the price action has stayed clean throughout the formation, respecting each structural level without breaking the pattern's integrity.
⬤ What makes this setup interesting is how cleanly it's playing out—similar to a pattern recently seen on Ethereum. The fact that XRP keeps respecting every support and resistance level adds credibility to the breakout scenario. The neckline is now the final hurdle, and a solid close above it with strong volume would confirm the pattern. Until that happens, the inverse head and shoulders remains technically valid and worth watching.
⬤ This pattern carries weight because inverse head and shoulders formations often signal momentum shifts when they develop this cleanly over multiple sessions. If XRP breaks above the neckline decisively, traders will likely shift attention to that $2.40-$2.60 zone as the next major target. A confirmed breakout could also mark a broader sentiment shift in XRP's short-term outlook.
Peter Smith
