XRP rises 8% this week, faces major test—can it break through $2.2 or will it trigger a sell-off

Ripple (XRP) has reached a critical level that could signal either a stronger rebound or a potential collapse. Renowned analyst Peter Brandt noted that XRP’s weekly chart is on the verge of forming a bearish inverse head-and-shoulders pattern. Brandt added that a drop below $1.8 could serve as a warning sign. According to Brandt, if his prediction comes true, the potential bearish target could be as low as $0.05, representing a decline of over 77%. However, the altcoin has risen 8% this week, trading at $2.1, meaning it is still well above Brandt’s identified risk level of $1.8. “We believe XRP will double.” This bearish outlook contrasts with Canary Capital’s forecast of a doubling in price. Canary’s CEO, Steven McClurg, stated in an interview with Schwab Network in April that the long-term outlook for XRP remains optimistic. For reference, XRP outperformed Bitcoin (BTC) at the end of last year, surging over 400%. Therefore, repeating a BTC-like trend would not be surprising. However, so far in 2025, XRP has lagged behind BTC, falling more than 40% relative to the leading cryptocurrency. Nevertheless, the price action has not been smooth. According to Glassnode’s cost basis data, $2.2 marks the average acquisition price for nearly 2 billion XRP. If holders choose to break even at this level, resistance could quickly build. The next major supply zone lies between $2.3 and $2.4, where over 1 billion XRP were purchased. Meanwhile, at the time of writing, XRP was trading at $2.19, but there were no signs of an overheated market or sell-off, despite the large supply near this level. Profit-taking has eased by a factor of three. So, has the selling pressure dissipated? Here’s an encouraging development: despite the imminent supply zone, profit-taking has significantly eased. According to Glassnode data, in mid-June, XRP’s daily profit-taking was around $151 million. However, this week, selling has eased to $47 million, a nearly threefold decrease in pressure. This suggests that XRP has the potential for a prolonged recovery amid weak selling. On one hand, Brandt warns that a break below $1.8 could lead to a sharp decline. On the other, Canary is calling for a breakout and possible doubling. But in between lies $2.2. Whether this level is broken or held may determine which prediction materializes first.