XRP, the native token of the Ripple blockchain designed for fast, affordable global payments, has begun showing signs of life. With price action improving amid supportive technical alignments, analysts spot a pending breakout emerging.
What you'll learn 👉
Weekly Structure Highlights Bullish Momentum Building
Veteran analyst EGRAG Crypto zooms out to the high timeframe weekly chart to contextualize the recent XRP consolidation. Historically, the 100 week moving average (WMA) tends to cap price action during periods of weakness. However, once the 100WMA flips to support, it usually signals a coming bull wave ahead.
“The 100 WMA is currently serving as a strong support level, indicating significant bullish momentum from a macro perspective,” EGRAG notes.
The research suggests XRP finds itself optimally positioned early in its next uptrend forming at higher levels than past cycles initially developed. The analyst mentioned that the next XRP bull run is likely to begin from the levels above the 100 WMA.
Falling Wedge Breakout Back Above Range Resistance
Drilling down to the daily bars, analytics platform altFINS has identified a technical falling wedge pattern that XRP appears poised to break out favorably. This structure reflects gradually declining lower highs and lower lows, indicating sellers losing steam.
“Price has broken out from a Channel Down pattern and above $0.55 resistance, which could signal bullish trend reversal, with +24% upside to $0.68,” the altFINS analysis summary states.
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Show more +Oversold Bounce Could Fuel Additional Gains
Despite lingering multi-year pressures on XRP, momentum signals have reset to better support some mean reversion.
The daily Relative Strength Index (RSI) stabilized around 50 (mid-range) rather than reaching oversold levels below 30 like previous capitulations. This development reflects waning downside energy.
Source: altFINS – Start using it today
Additionally, bullish divergence shows the MACD indicator successfully held above its signal line despite price making new lows – a hidden bullish positive.
With XRP bouncing solidly off familiar depths, the foundation now exists for the token to sustain this up-move.
In conclusion, an improving confluence of bullish technical and on-chain signals points to a pending XRP trend change ahead. If key levels hold, fueled by broad crypto market stabilization, XRP could launch on its next meaningful advance.
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