XRP has shown signs of a potential price correction after forming a double top near $2.65, which indicates short-term downside risk toward $1.94. The price dropped below a critical neckline at $2.47, confirming a bearish setup. Additionally, XRP has broken down from a rising wedge pattern, signaling a shift from bullish to bearish momentum. If it declines below key support levels, particularly around $2.00–$2.04, this could trigger a long squeeze and further selling pressure. The Net Unrealized Profit/Loss (NUPL) metric indicates traders are in denial, resembling pre-crash phases, raising concerns for short-term price action. Despite these warnings, long-term charts remain bullish, suggesting potential targets between $3.69 and $17 if XRP can break out from a falling wedge pattern. However, a drop below significant moving averages may invalidate the bullish outlook, indicating a need for caution in the coming days.

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