During the past week, the XRP price has been on the decline, falling from $1.27 at its opening on June 19 to a bottom of $1.02 before recovering to trade at $1.07. The prevailing market trend has been bearish, but there is an interesting development that is currently being observed by traders due to new factors.
According to crypto analyst Ali Martinez, there are two new things that can help the XRP price bounce back. One comes from the price chart itself, and the other comes from activity taking place across the XRP Ledger.
What you'll learn 👉
Two Technical Signals Point to a Possible Rebound for XRP
Ali Charts noted that the XRP price is flashing two bullish reversal patterns on the daily timeframe. The first is a Tom DeMark Sequential “9” buy signal. This is an indicator that is widely applied in determining when a trend has exhausted its strength, and completion of nine candles often indicates that a relief move can take place for one to four days.
The second signal to look out for is known as the Morning Star Doji candlestick formation. This appears after a fall and is made up of three candles, one bearish candle, one doji, and one bullish candle.
We analyzed the XRP daily chart, and both indicators were generated when the XRP price fell from about $1.27 to the $1.02-$1.03 region. Currently, the coin has managed to rebound to about $1.074, making it approximately 4-5% higher than its recent lows.
Despite this bounciness, resistance is still waiting above. The levels that the buyers have to reclaim include $1.10, then $1.15, $1.21, and finally $1.27. Below the level of $1.02, the morning star pattern becomes irrelevant, and the general downtrend takes over.
Read Also: Crypto Price Prediction for Today, June 28: Bitcoin (BTC), XRP, Ethereum (ETH)
XRP Network Activity Is Climbing
The technical setup is being supported by stronger blockchain activity. Santiment data shared by Ali shows that daily active XRP addresses increased from roughly 22,000 to nearly 38,000 over the observed period. In a separate update covering a two-week window, active addresses climbed from approximately 23,000 on June 14 to nearly 39,500.
That represents an increase of more than 70% in daily network participation. The interesting part is that this increase happened as the XRP price was moving lower. Normally, falling prices are accompanied by declining network usage. This time, more wallets became active even as XRP tested fresh lows.
That divergence often attracts attention because it shows network activity improving independently of price performance. It does not guarantee a rally, but it can indicate that demand for using the network is strengthening beneath the surface. The next milestone to monitor is 40,000 daily active addresses. Holding above that level would indicate that network participation continues expanding.
Where Could the XRP Price Go From Here?
The XRP price still has work to do before the broader trend changes. Our earlier XRP Price Forecast: Targets for This Week pointed to a likely trading range between $1.03 and $1.10 unless buying activity increases. The latest technical signals fit that outlook.
An upward push above $1.10 with increased volumes would make it easier to test $1.15, and once the overall sentiment towards cryptocurrencies improves well enough, $1.20 becomes the next level to watch.
If sellers take over $1.03, the focus will immediately be on the psychological support at $1.00. A clear breakdown below the support level will mean that the XRP price moves to $0.97.
In the meantime, the technical outlook looks promising, networking is on the rise, and the coming couple of trading sessions will tell us whether these positive signs will evolve into an actual rebound or revert to the existing downtrend.
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