XRP has surged 9% over the last 14 days, its highest level in two months. Nonetheless, the XRP/USD pair could suffer major losses in the coming weeks after the formation of a “gravestone” doji, which technical analysts view as a bearish reversal pattern.
Bearish Gravestone Doji Setup Hints At Major XRP Correction
XRP is at a critical crossroads. While some traders are optimistic about a potential upsurge amid improving regulatory clarity in the United States, others are not ruling out a retrace.
In a recent post on X, trader Ali Martinez noted that XRP was printing a gravestone doji on its weekly chart after a potential bout of bullish exhaustion. This candlestick pattern fully formed following a weekly close at $2.072.
A gravestone doji occurs when an asset’s opening, closing, and lowest price are nearly identical, except for the highest price. The long upper wick indicates that the bears pared all of the gains printed by the candle during the given session.
XRP kicked off last week on a strong footing, building on its 12% gain two weeks prior. The cross-border payments token surged above the $2.4 level for the first time since mid-November before bulls ran out of steam.
As such, the gravestone doji pattern has neutralized the immediate bullish outlook as the 2026 comeback fizzles. According to Martinez’s analysis, this setup does not look good for XRP, suggesting a potential slide much lower.
While the short-term price action remains choppy, XRP continues to attract institutional interest amid continued inflows into the U.S.-listed spot XRP exchange-traded funds (ETFs).
Source: https://zycrypto.com/xrp-price-forms-gravestone-doji-on-weekly-chart-top-analyst-says-not-a-great-look/
