XRP Price Analysis: Is the Rally Losing Momentum?
In recent months, the XRP cryptocurrency has experienced a notable rally, nearly reaching its all-time high of $3.8. Despite positive developments surrounding Ripple and XRP, the cryptocurrency’s struggle to break new records raises questions about its future trajectory. Notably, a new bearish pattern has emerged, as highlighted by crypto analyst Tradersboat, indicating a potential downturn.
XRP’s Double Top: A Sign of Impending Price Decline?
Tradersboat’s analysis reveals the formation of a double top pattern in the XRP price chart, a common indicator of a rally’s conclusion. This pattern suggests that XRP may have exhausted its upward momentum, tapping into external liquidity while buyer strength wanes. The double top is evident, peaking just above $3.6 but failing to surpass the $3.8 threshold.
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While a double top often precedes a price decline, there remains a possibility of a brief upward move. This potential uptrend could target liquidity above the $3.7 level before the prevailing trend takes hold. Adding to the bearish outlook, the analyst identifies a Break of Structure (BOS), historically signaling a shift towards bearish market sentiment. Together, these patterns point toward a likely price correction.
The XRP price previously reached highs above $3.6, triggering resistance indicated by rejection at this level. A decisive breakout did not occur, leading to expectations of a sell-off towards the sell-side liquidity zone below $3.4, with potential for further breakdown.
July: A Bullish Month for XRP
Despite current bearish indications, July has been a positive month for XRP, with gains exceeding 55% according to CryptoRank. This aligns with a five-year trend of XRP closing July positively, a streak that continues in 2025.
However, historical trends suggest caution for August, traditionally a bearish month for XRP. Over the past three years, August has seen average declines exceeding 12%, hinting that the analyst’s prediction of a potential crash could materialize.
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