XRP, Inverse Head and Shoulders Completion Imminent... $2 Advance Scenario Activated

▲ XRP/AI-generated image

XRP is poised to activate a 35% rally roadmap towards the $2 mark, with the inverse head and shoulders reversal pattern on the daily chart nearing completion. Market attention is focused on whether a key resistance level will be broken, as the market successfully absorbs large-scale selling pressure from whale investors.

According to U.Today, a cryptocurrency specialized media outlet, on September 19 (local time), virtual asset chart analyst Ali Martinez analyzed that XRP is completing a precise inverse head and shoulders pattern that has been forming throughout the summer. The sideways movement in June constituted the left shoulder, the bottom near $1 in August formed the head, and the current consolidation phase between $1.32 and $1.36 constitutes the right shoulder. The current key turning point is the $1.55 neckline, and if the daily candle closes above this resistance, an additional upward wave of approximately 35% is expected to be triggered, reaching the psychological target price of $2.00.

The arrangement of moving averages also supports the possibility of a mid-term bullish reversal. The 50-day Exponential Moving Average (EMA) has narrowed its gap with the 200-day Exponential Moving Average to less than 2%, signaling the imminent formation of a typical golden cross. The combination of technical rebound momentum and converging moving averages is increasing upward breakout pressure.

On-chain data also reveals a strong market absorption of institutional and whale investor holdings. According to CryptoQuant's aggregation, large investors deposited between 1.5 billion and 1.6 billion XRP into Binance over the past 30 days, the largest volume in six months. Typically, inflows to exchanges are used for margin collateral, derivative contracts, or over-the-counter (OTC) transactions. The fact that the right shoulder support level of $1.32 to $1.33 was firmly maintained without panic selling despite the large inflow of volume is interpreted as evidence of a very strong buying base.

Market experts note that despite the negative news of the US Senate rejecting the US cryptocurrency market structure bill, the US Commodity Futures Trading Commission (CFTC) treated XRP as a digital commodity, reducing its securities risk. Furthermore, the beta test for XRP Ledger integration within Stripe and Tempo infrastructure, which began on September 17, is acting as a substantial positive factor by expanding the usability of AI micro-payments. Attention is now on whether XRP can break through the $1.55 neckline while maintaining the right shoulder support, thereby initiating the 35% rally.

[Article Key Summary]

-XRP is nearing completion of an inverse head and shoulders pattern, with a 35% rally towards $2.00 projected if it breaks the $1.55 neckline.

-The gap between the 50-day and 200-day moving averages has narrowed to less than 2%, indicating an imminent mid-term golden cross formation.

-The market absorbed 1.6 billion XRP from whale inflows into Binance, defending the $1.32 right shoulder support level.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*