Ripple Price May Break Out Above $1.55 Neckline

XRP's daily chart is displaying an inverse head-and-shoulders structure, which could indicate a potential price breakout. The structure consists of a left shoulder, a lower central trough forming the head, and the current price area as the developing right shoulder.

The chart shows XRP declining from the $1.40-$1.50 region in May toward approximately $1.00 in August. Price then recorded a sharp advance from around $1.00 to above $1.50 before retracing.

The latest consolidation is centered around $1.30-$1.35, with the chart marking $1.33 as the current reference level. This area forms the right side of the displayed inverse head-and-shoulders structure.

A daily breakout above $1.55 would place price above the neckline shown on the chart and complete the displayed inverse head-and-shoulders configuration.

According to the chart, a move from the $1.55 neckline to $2.00 equals approximately 29%. From the current $1.33 reference price, reaching $2 would represent an increase of approximately 50.4%.