XRP (XRP) price has plunged more than 35% since reaching a multi-year high of $3.40 in January — and the downtrend may deepen in April as new bearish signals emerge.
Let’s examine these catalysts in detail.
XRP nears a classic technical breakdown
XRP’s recent price action is flashing a classic bearish reversal signal dubbed “inverse cup and handle formation.”
The inverse cup and handle is a bearish chart pattern that signals fading buyer momentum after an uptrend. It resembles an upside-down teacup, with the “cup” marking a rounded decline and the “handle” forming after a brief consolidation.
Inverse cup-and-handle pattern illustrated. Source: 5Paisa
A break below the handle’s support typically confirms the pattern, often leading to a drop equal to the cup’s height.
In XRP’s case, the rounded “cup” topped around March 19 and completed its curved decline by the end of the month. The ongoing sideways price movement