XRP traders are bracing for a potential selloff, as a bearish head and shoulders pattern has appeared on the daily chart — a historically reliable sign of trend reversal. Should this formation confirm, XRP could be heading toward a steep decline, with technical targets pointing to $0.61.

Pattern Breakdown: Signals of Weakness Emerge

The formation of the pattern has followed a typical path:

• Left Shoulder: Formed during XRP’s surge to $3.37
  
• Head: Created at the pattern’s peak
  
• Right Shoulder: Marked by a lower high, indicating fading momentum
  
• Neckline: Recently breached in the $1.97–$2.13 range — a critical support now turned resistance
  

This setup suggests that bullish momentum has stalled and that a further decline could be imminent.

What Makes $0.61 the Target?

Chart technicians derive this target by measuring the distance from the head to the neckline and projecting that downward from the breakdown point. Given the lack of historical price support in this range, the drop could accelerate once the current swing low is breached.

Suggested Trade Approach: Wait for Breakdown Confirmation

• Confirmation Needed: Look for a daily close below the swing low
  
• Downside Objective: $0.61
  
• Premature Trades Are Risky: If XRP regains its neckline, the setup could fail — stay patient
  

Bottom Line

XRP is at a technical crossroads. A confirmed breakdown could trigger a fast move to $0.61. While traders should remain cautious, the pattern is worth watching closely, especially as macro risks add more weight to bearish setups.