- XRP shows signs of ending its retest phase, targeting $4.5 after a quick recovery above convergence.
- A golden cross has formed, while rising futures interest suggests building investor confidence.
- Despite a drop in active addresses, falling exchange balances indicate ongoing accumulation.
XRP is currently trading at $2.13 after briefly breaking above the upper line of a short-term convergence during a recent correction. The price quickly recovered, indicating that the retest phase is near completion. The uptrend is expected to resume soon, with buying pressure increasing and a golden cross appearing on key sub-indicators. According to technical patterns, XRP’s next target is $4.5.
Price Movement and Market Sentiment
According to analysis prepared by Emma on X, XRP has struggled to reclaim the $2.4680 resistance level, continuing a descent marked by lower highs and weak momentum. The price dropped below the important $2.25 support level and is currently on course to retest $2.
Despite these challenges, the brief breakout above the convergence line suggests that the downtrend may be ending. Market data shows futures open interest at $4.11 billion, slightly down from the previous day but up 10.48% month-on-month, signaling growing investor interest.
On-chain activity reveals a sharp drop in active addresses from 21,870 to 6,900 in one day, the largest single-day decline this year. This decline raises questions about user engagement, but exchange balances continue to fall, suggesting accumulation by long-term holders. Analysts monitor these indicators closely for signs of a sustained upward trend.
Technical Indicators and Future Outlook
Technical charts indicate that the Moving Average Convergence Divergence (MACD) and Simple Moving Average (SMA) show bearish trends currently acting as resistance. However, the emergence of a golden cross on sub-indicators supports the possibility of a bullish reversal.
The current pattern suggests XRP could break through the small convergence and push toward a $4.5 target. Institutional interest remains strong, with several large investments planned.
The token’s price has consolidated near $2.13 but shows signs of strengthening. A daily close above $2.40 could lead to renewed buying momentum and accelerate gains toward key resistance zones.
