- XRP’s TD Sequential flashed a buy signal near $2.95, with analysts eyeing resistance between $3.04 and $3.10.
- Analyst Egrag Crypto stressed XRP has been in accumulation for ten months, rejecting Wyckoff distribution interpretations.
- CRYPTOWZRD noted XRPBTC’s symmetrical triangle, predicting a breakout could drive XRP toward the $3.65 level.
XRP has recently displayed technical patterns that analysts say could define its near term direction. The asset declined from above $3.10, with price sliding into the $2.93–$2.98 range.
Selling pressure was evident in large red candles, but subsequent smaller candles suggested weakening bearish momentum. A white candle closing at $3.0050, posting a 0.51% gain, further added to speculation that sellers may be losing control.
Technical Indicators Point to Potential Reversal
According to analyst Ali, the TD Sequential has flashed a buy signal around the $2.93–$2.95 support area. The indicator showed a “9” count near $3.04 with an upward arrow, often associated with trend exhaustion and potential reversals.
If support levels hold, upside moves could retest the $3.04–$3.07 range, with $3.10 identified as the next key resistance. However, analysts warn that failing to maintain $2.93 support may expose XRP to extended declines toward $2.90 or lower.
This setup shows the importance of the $2.95 zone. Price action in this region could confirm whether buyers are stepping in after months of downside pressure. The slowing bearish momentum coincides with lighter candle colors, pointing to a possible short term bounce.
Analyst Stresses Accumulation Phase
Analyst Egrag Crypto emphasized that XRP has been in an accumulation phase for ten months. He dismissed suggestions of a Wyckoff distribution pattern, stating that recent market structure does not support such interpretations. His view notes the long standing consolidation and its potential to form the basis for upcoming volatility.
This perspective introduces a broader context to Ali’s technical analysis. While one focuses on immediate reversal signals, the other frames price activity as part of a larger structural phase.
Symmetrical Triangle on XRPBTC
Analyst CRYPTOWZRD observed XRP’s daily close as indecisive while XRPBTC maintains a symmetrical triangle pattern. He noted that a bullish breakout from this structure could lead toward $3.65. His attention is on lower time frames to identify the next trading setup.
The symmetrical triangle perspective links directly with the earlier accumulation view. Both suggest that prolonged consolidation may lead to stronger directional moves. Whether XRP breaks higher or revisits support, it remains to be seen.
