XRP (XRP) price continues to underperform the broader crypto market this week, even though multiple altcoins turned green as Bitcoin (BTC) rallied to $88,800.
XRP 1-day chart. Source: Cointelegraph/TradingView
The altcoin is down 4.7% over the past seven days, putting a pause to the 11% rally seen on March 19, when the Ripple’s SEC “lawsuit ending” news made headlines. XRP trading volumes have also dropped from around $4 billion to $2.6 billion, i.e., a 35% dip over the past week.
XRP price peers over a steep cliff
In a recent X post, veteran trader Peter Brandt said the presence of a “textbook” head-and-shoulders pattern (H&S) could drop XRP price as low as $1.07.
XRP head-and-shoulders pattern by Peter Brandt. Source: X.com
According to Brandt, a price rally above $3 could invalidate the H&S pattern. However, a drop below $1.90