XRP Faces Potential Double Top as Price Nears $3.50 Resistance

XRP has experienced significant volatility in recent weeks, surging from below $2.30 to highs above $3.50. However, a potential double top pattern is emerging, raising concerns about a possible bearish reversal despite the token’s strong momentum.

After a sharp pullback, XRP has rebounded above $3.20, signaling continued bullish activity. Yet, analysts warn that if the price retests the $3.50 level and fails to break higher, it could form the second peak of a double top pattern — a classic indicator of short- to medium-term trend reversals.

Technical indicators further highlight the risk. The Relative Strength Index (RSI) is approaching 75, suggesting strong buying pressure but also the possibility of exhaustion if a breakout fails to materialize. Moreover, the recent rally toward $3.50 has occurred on decreasing trading volume, potentially signaling waning investor interest.

Traders are closely monitoring the $3.00–$3.10 neckline. A confirmed breakdown below this support zone could validate the double top formation, potentially sending XRP toward the 50-day EMA near $2.60 or lower. Conversely, a decisive move above $3.50 could invalidate the bearish outlook and reinforce bullish momentum.

XRP’s price action comes amid heightened activity in the broader crypto market, with Ethereum’s rally and Bitcoin’s resistance levels also drawing investor attention. For XRP holders, the next test at $3.50 could prove pivotal in determining the token’s short-term trajectory.

Investors should watch for sustained volume and RSI behavior as key signals in the coming sessions, as failure to maintain bullish momentum could lead to increased selling pressure and a deeper correction.