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BILL: Human-AI Collaboration NetworkZEST: Bitcoin Lending ProtocolATWO: Fans Vote to Change Live OutcomesXRP price faces a bearish head and shoulders pattern that risks an 18% drop below $1. Yet, exch

XRP price faces a bearish head and shoulders pattern that risks an 18% drop below $1. Yet, exchange outflows have surged over 300% since mid-May. Plus, open interest dropped, and long leverage hit multi-week lows.

The surging buying pressure could keep XRP range-bound for now, but a move below the neckline confirms the breakdown scenario.

Bearish Head and Shoulders Pattern Risks an 18% Drop

XRP’s 12-hour chart paints a bearish head and shoulders pattern. The left shoulder formed in early March, followed by the head peak in mid-March. The right shoulder completed in mid-May, mirroring the left shoulder structure.

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The neckline sits around $1.18, with the bearish pattern breathing down XRP’s neck. XRP dropped to $1.30 on May 23 before a quick rebound. The risk stays alive until XRP reclaims levels above the right shoulder and head.

XRP Head And Shoulders Pattern: TradingView

A measured move from the neckline projects roughly an 18% drop for XRP price. But will the breakdown happen? On-chain and derivatives data tell a different story.

Buying Pressure Quadruples as Exchange Outflows Surge 300%

The bearish XRP chart pattern faces strong on-chain pushback. Glassnode’s Exchange Net Position Change metric, which tracks exchange flows, shows XRP outflows accelerating since mid-May.

On May 15, the metric read -7,144,942 XRP. By May 24, the reading dropped to -29,372,431 XRP. That marks a 300%+ surge in outflows over nine days.

Net exchange outflows signal accumulation off-exchange. Coins moving out reduce available supply for immediate sale, easing downside pressure. The trend has been steady rather than spiky, pointing to a deliberate buying campaign.

XRP Exchange Net Position Change: Glassnode

Whether this buying pressure can save XRP price from fallin

XRP price faces a bearish head and shoulders patte

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bill soared to 0.124024 USDT, a new high with a 24-hour increase of -6.17%. It currently trades at 0.102651 USDT on HTX.

genius soared to 0.7435 USDT, a new high with a 24-hour increase of -4.92%. It currently trades at 0.6763 USDT on HTX.

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