title: XRP (XRP) Payment Token at Risk of a Massive Collapse, Warns Crypto Analyst

A closely followed crypto analyst and trader is warning that the payments token XRP is at risk of a massive collapse.

Crypto trader Ali Martinez is warning that the payments token XRP is at risk of a massive collapse as it may be forming a bearish head-and-shoulders (H&S) pattern on the daily chart.

According to the trader, who boasts a following of 133,300 on X, a lack of recovery above the 200-week moving average (MA) at $0.60 and the 128.6% Fibonacci retracement level may spell more trouble for XRP.

“XRP is shaping up a head-and-shoulder on the weekly chart. It spotlights the $2 support. Holding it is crucial.”

Image: X: Ali Martinez

If crypto bears shatter support at $2, then he predicts that XRP may fall to $1.255.

Next up, the analyst suggests Solana (SOL) may soar to the upper bound of an ascending channel after respecting the pattern’s diagonal support around $126. An ascending channel is traditionally seen as a bullish pattern, indicating that an asset is printing higher highs and higher lows.

“Solana set to bounce? Eyeing a climb from the channel’s base to the upper resistance at $140.”

Image: X: Ali Martinez

Lastly, the trader says the smart contract project Qtum (QTUM) may be gearing up for a huge corrective move if it moves below a key support level that has remained intact since November 2022.

“QTUM could be on the verge of a breakout! Keep an eye on the $1.88 support level.”

Image: X: Ali Martinez

Based on the trader’s chart, he appears to predict that QTUM may plunge to as low as $0.63.

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