XRP, also known as Ripple, has experienced a significant 30% bounce back from a four-month low of $1.61 amidst increasing tariff tensions. However, this recovery may be short-lived as technical analysis and on-chain signals are indicating a potential deeper correction ahead. XRP is currently forming an inverse cup-and-handle pattern, which typically suggests a bearish reversal with a potential price drop of around 40% in the coming weeks. This pattern involves a curved descent (cup) followed by a consolidation phase (handle) above a common neckline support level. The breakdown stage occurs when the price decisively breaks below the support level, potentially leading to a significant drop. As of April 19, XRP had entered the handle-formation phase, aiming for a close below the neckline support at approximately $2, with a downside target of around $1.24, nearly 40% lower than the current price. Renowned trader Peter Brandt also predicts a 50% drop in XRP’s market cap in the near future. Additionally, an on-chain fractal analysis suggests that XRP’s historical price behavior indicates a potential correction of up to 50%, with the current realized price at around $1 being a likely downside target. The declining sentiment around XRP achieving a new all-time high above $3.55 is evident in prediction market data from Polymarket, with the odds decreasing to 35% as of April 19. The overall crypto market momentum has slowed down in April, coinciding with a decrease in risk appetite due to escalating global tariff tensions. This analysis does not provide investment advice, and readers are encouraged to conduct their own research before making any financial decisions.