XRP’s 8% weekly gain faces big test – Will $2.2 break or lead to sell-off?

• Brandt warned that XRP could record a major retrace if it falls below $1.8.
• Overall selling pressure has dropped 3x in late June and could boost bulls. 

Ripple [XRP] has hit a pivotal level that could either mark a stronger rebound or a potential crash. 

According to renowned analyst Peter Brandt, XRP’s weekly chart was on the verge of forming a bearish reverse head and shoulders pattern. A dip below $1.8 could be a warning sign, Brandt added, saying, 

“Treat the Apr 7 overshoot as an out-of-line movement, and we have a possible H&S top in $XRP”

Source: Peter Brandt/X

If Brandt’s projection plays out, the potential bearish target would be as low as $0.05, over 77% crash.

However, the altcoin was up 8% this week and traded at $2.1, meaning it was far from the $1.8 risk level flagged by Brandt. 

“We believe XRP will double”

The above bearish prospect was contrary to Canary Capital’s double growth forecast. In an April interview with Schwab Network, Canary’s CEO, Steven McClurg, said,

“There’s a few that we believe will outperform Bitcoin this year, such as XRP…I think most of these will double”

For perspective, XRP outperformed Bitcoin [BTC] by over 400% in late last year. So, repeating a similar move against BTC won’t be surprising.

However, so far in 2025, XRP has lagged behind BTC, dropping over 40% against the king coin. 

Source: XRP/BTC, TradingView

Still, price action won’t have it easy. 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 here, resistance could build fast. The next supply-heavy zone lies between $2.3–$2.4, where over 1 billion XRP were bought.

Source: Glassnode

Meanwhile, XRP traded at $2.19 at press time, but there was no sign of an overheated market or sell-off despite massive supply around the level. 

Profit-taking eased 3x. So, is selling pressure dead?

Here’s the encouraging twist: despite the looming supply zones, profit-taking has eased dramatically. According to Glassnode, the rate of profit-taking from XRP hit around $151 million per day in mid-June.

However, the sell-off has eased to $47M this week, nearly a 3x decline in pressure. This suggested XRP’s potential for extended recovery amid weak selling. 

Source: Glassnode

On one side: Brandt’s warning of a steep drop if $1.8 fails. On the other hand, Canary’s call for a breakout and potential double.

But in the middle stands $2.2. Whether this level breaks or holds could decide which prediction plays out first.