XRP is currently priced at $2.02, noting a 24-hour trading volume of $4 billion. It has seen a near 2% drop over the past day and a 9% decline over the week.

Despite these variations, various technical signals across different timelines indicate that positive buying momentum could be emerging, prompting traders to watch for signs of a trend shift.

Bullish Divergence on the Daily Chart

After a 55-day downtrend, XRP has reportedly formed a bullish pattern, according to insights from Analyst ChartNerd. The Relative Strength Index (RSI) shows signs of bullish divergence, suggesting that downward momentum could be dissipating.

“The longer it takes, the stronger the signal gets.”
“Ne kadar uzun sürerse, sinyal o kadar güçlü oluyor.”

As it stands, the RSI is at 37, remaining below the neutral threshold. The validity of this pattern will endure unless the RSI indicates lower lows with declining prices, which could invalidate the current bullish outlook.

XRP Price Chart 02.12. Source: ChartNerd/X

Long-Term Support at $1.75

XRP continues to trade above the crucial monthly closure high from the 2018 bull market, specifically around $1.75, which has acted as a reliable support level for over a year. CryptoBull noted that as long as this level holds, we might still be in the current bullish cycle.

“This is NOT the top,” he expressed.

The assertion surrounds the understanding that significant cycle tops are often characterized by large monthly candles along with high trade volumes—conditions XRP hasn’t met yet.

Technical Indicators Suggest Potential Breakout

EGRAG CRYPTO highlighted a potential bullish pennant forming on the monthly XRP/BTC chart, emphasizing XRP’s trading above the 50-month EMA as a pivotal resistance point from previous years.

“This is a major market structure shift,” he commented.

The projection indicates a 60-70% probability of a breakout in the next 3 to 6 months, conditioned by the market dynamics.