Josh Olszewicz, a well-known crypto trader, isn’t convinced that XRP bulls have reason to celebrate just yet. He’s keeping a close eye on the token, specifically watching for a classic “head and shoulders” pattern—a well-known signal that often hints at a shift from bullish to bearish momentum. With over 150,000 followers on X, Olszewicz believes XRP needs to reclaim the $2.85 level to shake off any looming bearish threats.

Right now, XRP is trading at $2.51 on Bitstamp, following a modest 2.5% increase over the past 24 hours. The token initially saw a huge surge after being added to a strategic crypto reserve, but much of those gains have since disappeared. Meanwhile, Bitcoin (BTC) is on the verge of crossing the $93,000 mark, thanks to confirmation that it will hold a special status within the reserve.

Will XRP manage to break free from bearish pressure, or is this just the calm before another storm? Time will tell.