Ripple's XRP May Be Transitioning to a Bullish Trend
- Technical Indicator Shift: Analyst Ali Martinez highlights that XRP's SuperTrend indicator has issued a buy signal for the first time since January, suggesting waning selling pressure and a potential trend reversal; if the price surpasses $1.55, it will validate the breakout with a target of $1.90.
- Increased Whale Activity: Last week, whale investors acquired 360 million XRP worth over $500 million, raising their holdings to 8.73 billion coins, or 14% of the circulating supply, indicating strong market confidence that may encourage smaller investors to follow suit.
- Decreasing Exchange Holdings: The amount of XRP stored on exchanges continues to decline, which is viewed as a bullish sign as it reduces immediate selling pressure; analysts believe that as long as XRP maintains the $1.30 support zone, the bullish outlook remains intact.
- Market Optimism: Crypto Tony suggests that if XRP breaks through the $1.45 resistance level, it could see significant gains, while other analysts predict a “supercycle” for XRP, envisioning a price explosion in the coming months.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.191 | 1.27 | 1.35 | 1.43 | 1.51 | 1.59 | 1.67 |
| Fibonacci | 1.27 | 1.331 | 1.369 | 1.43 | 1.491 | 1.529 | 1.59 |
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