- The TD Sequence signal has registered a buying signal, and there may be a bull cycle if XRP tests significant resistance levels.
- XRP trades within a downtrending channel, with a probable breakout above $2.80–$3.00, possibly pushing prices up towards $3.50–$4.
- The MACD signals the start of a bull crossover, and the Stochastic RSI signals a short-term correction before a rally.
XRP is on its tipping point, with traders expecting a reversal. A significant technical signal has confirmed a buying signal, and the downtrend may be losing its momentum. With the entry of the buying force, major resistance and support levels will be dictating the next movement.
Technical Indicators Suggest Probable Reversal
Crypto analyst ali_charts said the TD Sequential has also registered a buy signal on the four-hour chart of XRP. The signal after a series of lower lows and lower highs. The latest action represents a bullish candle after a series of bearish ones, implying upward movement.
The chart also contains a marker of “1,” where there has been the commencement of a bull cycle, after a marker of “9” where there had been regional depletion. The price has recently bounced from the $2.64–$2.65 support, and the next resistance levels are $2.70–$2.72. A breakdown of this could be confirmation of a trend reversal.
Falling Channel and Market Forecast
XRP is trading within a declining channel, with the upper being resistance and the lower being the point of support. The pattern indicates a possible breakout if buying momentum can be sustained. A bull breakout from the channel, more significantly above $2.80–$3.00, can take the price up towards $3.50–$4.00.
However, the Stochastic RSI, 73.10 and 86.69, is still in the range of being overbought, and this suggests a short-term correction with a possible rebound. The MACD also suggests there could be a possible bullish crossover, and this could be a signal of reversal of momentum.
Key Levels of Focus and Scenarios
XRP traders are paying close attention with the market still on the edge. The main resistance level is $2.80–$3.00, and the key point of support is $2.20–$2.30. If XRP remains above support, then a rise can be anticipated. But if there’s a drop below $2.20, then more drops towards $1.80–$2.00 can be anticipated.
The price of XRP was at $2.55 at the time of writing, reflecting a 3.77% decline in the past 24 hours but a 3.18% gain over the past week.
