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XRP Volatility Increases as Market Hits $1.3 Trillion Loss
The global cryptocurrency market has shed more than $1.3 trillion over the past three months, and XRP has experienced significant declines as part of the broader sell-off. At press time, XRP was trading at $1.83, down 50% from its July peak of $3.65, resulting in an 11.73% annual loss, on track to finish the year in red for the first time since the 2022 bear market.
Peter Brandt Highlights Potential Double Top Pattern
Veteran trader Peter Brandt recently pointed out that XRP may be forming a bearish double top pattern on the weekly chart.
“Love it or not, you need to deal with it,” Brandt said, noting that the structure remains unconfirmed but could have bearish implications.
A double top typically occurs when an asset rises to a similar high twice but fails to break resistance. The pattern is confirmed when prices fall below the neckline support, which represents the low between the two peaks. According to Brandt’s chart, XRP formed its first top at $3.4 in January 2025, dropped to $1.8 in March, and later surged to $3.65, forming the second top. XRP has since declined back to $1.8, approaching the neckline. Brandt emphasized that if the pattern does not materialize, he will reassess, but the potential for further declines exists.
Weekly RSI Suggests Possible Recovery
Despite these bearish signals, analyst Cryptollica highlighted that XRP’s weekly Relative Strength Index (RSI) has dropped to 33, a level historically associated with price recoveries. Previous dips into the 30 region—observed in March 2020, June 2022, and July 2024—were followed by notable rebounds.
Brandt acknowledged this perspective, stating that if the double top fails, the resulting price action could be “exciting.” He stressed that his observations are based on technical chart patterns rather than bullish or bearish sentiment.
XRP Community Response
Brandt has previously noted the strong reactions from XRP supporters when he discusses potential bearish setups, once referring to XRP investors as “the most madly obsessed permabulls”.
Overall, XRP remains under scrutiny, with technical analysts monitoring the interplay between potential bearish structures and historical indicators suggesting recovery.
