On June 16, CryptoInsightUK, a British analyst, released a video analysis suggesting a major breakthrough for XRP is on the horizon. However, for this to happen, the token needs to form a right shoulder around the high-$1.80s as part of an inverse head-and-shoulders formation.
The analyst indicated that areas of dense liquidity are currently below us, with a significant concentration of bids and stop-loss clusters between approximately $1.92 and $1.80. He believes that XRP needs to dip into this range, specifically to about $1.88, to complete the right shoulder formation before a real rally can begin.
As of now, XRP is trading around $2.24, suggesting a potential drop of nearly 20% if the market follows the analyst’s projection. However, according to CryptoInsightUK, such a decrease isn’t a reason to panic but rather a necessary condition for XRP to make its next big move upwards.
This analyst also connects the bearish short-term perspective to structural factors in the wider crypto market, pointing to an increase in Bitcoin dominance that could signal the start of alt-season. He suggests that a late-cycle drop in Bitcoin to between $100,000 and $93,000 could trigger a spike in dominance, causing major altcoins like XRP to experience significant percentage losses before regaining strength.
Within the XRP market, the analyst highlighted a liquidity vacuum created by a massive sell-off in May. The subsequent recovery has been described as “choppy corrective price action,” lacking the conviction of earlier impulse waves. The analyst believes that a dip to form the right shoulder would clear out residual leverage, particularly from traders who quickly went long during the $2.15–$2.40 bounce.
Looking at the long-term view, the analyst expects that if the right shoulder forms around $1.88, the classic pattern-measuring rules suggest XRP could reach over $3.50, a level unseen since late 2021. He recommends long-term holders to consider any dip below $2.00 as a final opportunity to accumulate, advising that dollar-cost averaging is a good strategy at this point.
Despite short-term uncertainties, CryptoInsightUK holds a bullish long-term view, drawing parallels with gold’s record weekly close and suggesting that global risk aversion is silently supporting non-sovereign stores of value like Bitcoin and XRP.
Whether XRP follows this prediction will become evident in the coming days. Should the market dip into the high-$1.80s and rebound as expected, the right shoulder will have formed, paving the way for a significant rally. At the time of writing, XRP is trading at $2.23.
