XRP has staged a short-term recovery, pushing the asset to hold its price above the $2 support level, though technical indicators are flashing warning signs.
The asset is currently forming a head-and-shoulders pattern, a bearish signal that could foreshadow a drop toward $1, according to cryptocurrency analyst Ali Martinez in an X post on March 1.
The pattern features three peaks: the left shoulder forms after a price rally and decline, the head rises higher before another drop, and the right shoulder mirrors the left at a lower peak. The neckline acts as support, and once breached, it typically confirms a bearish trend.
Martinez’s analysis suggests that the neckline is around $1.90, and a break below this level could signal a further downside. A confirmed breakdown would indicate rising selling pressure, with a price target based on the pattern’s height.
XRP price analysis chart. Source: TradingView/Ali_charts
The projected drop after a head-and-shoulders brea
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