XRP Price Action Triggers Double-Top Reversal Warning

XRP's recent price action has formed a potential double-top reversal pattern on its daily chart, raising concerns of a significant decline. The token was trading near $1.48 on September 24, following a sharp recovery from its August low near $1.

However, this rebound may be developing into a double-top pattern, with the first peak forming earlier in September when XRP rallied toward roughly $1.55-$1.60 before pulling back. The token subsequently recovered and tested approximately the same resistance area again in late September, forming what could become the pattern's second top.

The key level to watch is the double top's potential neckline around $1.285. A decisive daily close below this support would confirm the bearish structure, pointing to a downside target around $1.00, representing a decline of more than 30% from current prices.