XRP Inverse Head-and-Shoulders Sets Stage for 16% Price Surge

XRP is forming an inverse head-and-shoulders pattern on its price chart, according to analysis by BitRss. This technical indicator suggests that XRP may be due for a significant price increase in the near future.

The inverse head-and-shoulders pattern is a bullish reversal signal that forms when the price of a cryptocurrency falls below a certain level and then bounces back up, forming two smaller peaks (the 'shoulders') on either side of a larger peak (the 'head').

If XRP does break above its resistance level at $1.32, it could be indicative of a 16% price move higher.