- XRP is at a critical turning point, with analyst Jesse Colombo warning of a potential major crash if the price falls below the $2 support level, confirming a bearish head-and-shoulders pattern.
- After surging near $3, XRP dropped 18% in 24 hours, now hovering at $2.23. Some analysts believe buyers could defend the $2 level, while others see a deeper correction ahead if selling pressure increases.
- Not all experts are bearish—analyst Captain Faibik suggests XRP is forming a bullish pennant, which could lead to an 80-100% rally, potentially pushing XRP to $5 if the price holds above key support.
Jesse Colombo, a widely followed financial analyst, is waving a red flag over XRP, warning that the crypto asset could be on the edge of a major downturn. In a recent tweet, he highlighted a head-and-shoulders pattern forming on XRP’s daily chart—a classic bearish signal that has historically preceded sharp price drops.
The $2 Neckline: XRP’s Breaking Point?
Colombo’s analysis shows a neckline in the $2 – $2.20 range, a crucial support level that traders are watching closely. He emphasized that if XRP decisively closes below $2, it could confirm the bearish formation, triggering a wave of selling pressure that may send the price spiraling downward.
His concerns come at a time of heightened volatility. Just days ago, XRP was nearing the $3 mark, surging from $1.96 to $2.95 in a matter of hours. But the momentum was short-lived, as XRP plunged 18% within 24 hours, now hovering at $2.23.
Colombo believes this is just the beginning—if the $2 level fails to hold, XRP could see even deeper losses.
Can Bulls Defend the $2 Support?
Despite the ominous chart pattern, there is still a glimmer of hope for XRP bulls. The $2 support level has historically acted as a strong accumulation zone, fueling previous rebounds, including the recent rally above $3.
Some analysts believe buyers could step in here, preventing further decline. But if selling pressure intensifies, the head-and-shoulders pattern may play out as expected, leading to a potential market-wide panic.
Interestingly, Colombo has a rather controversial stance on the matter—he actually wants XRP to collapse. In his words, he’s hoping the market “punishes” crypto gamblers and wipes out “nearly every token”, arguing that society would be better off without them.
Not Everyone is Bearish on XRP
While Colombo sounds the alarm, other market commentators see a different picture. Captain Faibik, another crypto analyst, pointed out that XRP is forming a bullish pennant on the daily chart—a pattern that historically leads to strong upside moves.
According to Faibik, if XRP can hold above $2 and confirm a breakout, it could trigger an 80% – 100% rally, potentially pushing the price to $5 in the mid-term.
With bulls and bears locked in a battle, all eyes remain on the $2 support level. Will XRP stage a major comeback, or is Colombo’s bearish prophecy about to unfold? The next few days could be crucial in deciding its fate.
