XRP Completes Inverse Head-and-Shoulders Pattern, Sets Sights on $1.60

XRP has completed the right shoulder of an inverse head-and-shoulders pattern, a bullish reversal structure in technical analysis. This pattern formed across several months, with the left shoulder developing around April and May, the head bottoming out near $1 in late July and early August, and the end of August breakout completing the head.

The right shoulder formed through September, and XRP has since recovered to press against the neckline resistance at $1.60. According to Martinez, 'Everything comes down to $1.60.'

XRP is consolidating just below this level, building pressure before its next significant move. A confirmed breakout above $1.60 would complete the inverse head-and-shoulders structure.