This pattern shows that demand has exhausted at a specific high price. Buyers attempted to push the price up again but failed.

This pattern is confirmed when the price breaks below the "neckline." Brandt states that XRP has now either broken this critical support or is close to breaking it.

If this pattern is confirmed, the trend clearly shifts from bullish to bearish.

The upper horizontal black line in the chart is the "ceiling"—XRP has hit this level twice (early/mid-2025 and recently), but could not close above it. This is where a double top was formed.

The lower horizontal black line is the "floor" or neckline—this is the most important support.

The most important thing in the chart is the current candle (the red bar on the right side). If the weekly close is below the neckline, according to classical charting, the double top is confirmed.

A small downward-sloping trendline is also visible at the second peak, indicating that sellers had already become aggressive before the breakdown.

Target?

Brandt did not provide an exact target, but according to the double top, it could return to the $XRP 50-cent area.

Yes, if the price suddenly reverses and goes above $2.00, it would be a bear trap and the pattern would be considered failed.

For now, the data is bearish.