XRP Price Forms Inverse Head-and-Shoulders Structure with $2 Target

The price of XRP has formed an inverse head-and-shoulders structure on its daily chart, a technical pattern that indicates potential price movement.

XRP declined from around $1.40 to below $1.00 in August before rebounding sharply and reaching above $1.50 in late August and early September.

The current price is centered around the $1.30-$1.35 range, with a horizontal neckline at approximately $1.55 marking the top of the structure.

A breakout above this level would complete the pattern and potentially send prices towards $2, representing an increase of 50.4% from the current reference price of $1.33.