Crypto analyst Alicharts highlights a candlestick pattern on the XRP charts, with potential implications for its price trend.
In recent tweets, Ali spotted a Gravestone doji forming on the XRP daily chart. He added that this might suggest a potential bullish exhaustion signal.
In a separate tweet, Ali noted that this bearish reversal pattern might also be forming on the weekly chart, with potentially grave implications for the XRP price. “The last time XRP printed a gravestone doji was on the weekly chart, and the price dropped 46%,” he noted.
The gravestone doji is a candlestick pattern in which the opening and closing prices of the candle are at the same level or very close to the same level. The gravestone doji has a long upper shadow and no body. Its appearance is significant after an uptrend, as it might indicate a bearish reversal. A gravestone doji often implies that the market has decided to be bearish.
This comes amid the current uncertainty on the markets that has left market sentiment in the fear zone. The Fear and Greed Index remains in extreme fear as the crypto market continues to struggle following October’s sell-off.
Optimism remains
XRP reversed five weeks of losses as it ended Sunday up 3.13%, marking its first green week since the start of 2026.
This signal has led some to question whether the XRP price might have found a floor after a crash to a low of $1.11 at the start of February.
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XRP saw profit-taking following a sharp rise on Sunday to $1.67. At the time of writing, XRP was down 2.79% in the last 24 hours to $1.49, amid a broader market drop ahead of a packed week of economic data.
If the XRP price picks up momentum again, the next targets will be $1.67 ahead of $1.81 and $2.37, which coincide with the daily MA 50 and 200, respectively. On the other hand, support is expected at $1.34 and $1.11 if the price declines.
