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Technical Analysis

Ripple Price Analysis: Possible Double Top For XRP/USD?

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On May 30, the Ripple price (XRP) reached a high of $0.474. A rapid decrease ensued and the price reached a low of $0.40 the next day.
XRP Outlook Since then, the price has been gradually increasing without experiencing significant fluctuations. Where will it go next? Let’s find out.

Ripple price (XRP): Trends and Highlights for June 3

  • The Ripple price reached a high on May 30.
  • It has been trading inside an ascending channel.
  • There is bearish divergence developing in the RSI and the MACD.
  • The price has made a possible double top pattern.
  • Volume has been higher on bearish candles.
  • There is support near $0.41.

XRP in an Ascending Channel

The Ripple price (XRP) is analyzed at one-hour intervals from May 30 to June 3 in order to trace the current pattern.
On May 30, XRP/USD reached a low of $0.40. A gradual increase began and the price reached a high of $0.44 on June 1. Since then, it has been trading inside the ascending channel outlined below:
Ascending ChannelWhile inside the channel, the price has alternated between the resistance and support lines without experiencing significant fluctuations. Both the increases and the decreases have been gradual. At the time of writing, the price is trading in the middle of the channel. Where will it go next? Let’s take a look at some technical indicators and try to answer.

Bearish Divergence

The price of XRP is analyzed at 12-hour intervals alongside the RSI, MACD and volume.
On May 15, the Ripple price (XRP) reached a high of $0.478. After a gradual decrease, similar highs were reached on May 30.
RSI Divergence Both the RSI and the MACD reached the first high on May 15. However, they have both generated lower values since. This is known as bearish divergence and often precedes drops in price. Furthermore, it seems as if the Ripple price has created a double top, which is a bearish reversal pattern. Additionally, volume has been steadily decreasing since the upward move on May 15. This held true until the bearish engulfing candle on May 31, which broke the trend decreasing volume. However, it still fell short of the bullish candle prior to the upward move of May 15. This occurrence further supports the double top pattern and bearish divergence signs, which point to a reversal. The use of these indicators makes it likely that the price will decrease. In the short-term, a breakdown from the ascending channel is likely.

Reversal Areas

One support area is traced for Ripple (XRP) below. If the price breaks down from the channel, it is likely to provide a reversal. Reversal The closest support area is found near $0.41. We believe it is likely that the price will reach this area. This is a relatively short-term target.


To conclude, the price of XRP has created a double top pattern in long-term timeframes. This bearish reversal pattern, combined with the readings from technical indicators makes it likely that the price will decrease. We believe a break down from the short-term ascending channel is likely to occur. What do you think will happen to the Ripple price (XRP)? Let us know in the comments below. Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.