XRP is currently maintaining a position above $1.9 after reversing from key support near $1.8. This movement succeeds a brief dip below the support level, which was swiftly corrected, signaling possible positive short-term trend shifts.

Support Zone Remains Resilient with RSI Recovery

Analyst Niels flagged a potential double bottom around the $1.8 level, indicating XRP tested this area twice, with the second attempt breaching support briefly before recovering. This pattern often symbolizes early recovery signs.

“XRP had a fakeout below the support level before reclaiming the zone,” he noted.

Additionally, the RSI shows recovery signs. After dipping and hitting oversold levels near 22, the indicator has rallied back to around 45. Niels emphasized,

“RSI has bottomed out already, and now the price is showing good signals too.”

If momentum persists, the next resistance is projected around $1.95. Surpassing this could activate targets between $2.3 and $2.5.

XRP Price Chart
Source: Niels/X

However, XRP temporarily fell below $1.90 over the weekend, indicating seller activity as volume increased. The broader market remains mixed, with XRP lacking the follow-through other large-cap tokens exhibited. Since losing the $2 mark earlier in the month, subsequent rebounds have been constrained.

Though, ChartNerd pointed out XRP’s trading above the Monthly Supertrend indicator, stating,

“Being above the Monthly Supertrend indicator implies that $XRP is still in a bull market.”

On-Chain Activity and Sentiment Updates

XRP network address activity has slowed, according to Ali Charts, reporting a decrease from 46,000 active wallets to 38,500 in the last week. This shift indicates fewer active participants in the network amidst the current price consolidation.

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Analyst Daniel Ramsey shared a contrasting perspective on the situation.

“#XRP is testing the neckline of Double Top formation,” he articulated. *His assessment suggests bearish trends. A close below $1.77 would breach recent structures and bring focus back to the next major support near $0.8. Moreover, data from Ali Martinez indicates the TD Sequential tool might have flashed a local top following XRP’s bounce from $1.77 to $1.92.

At the moment, XRP is priced at $1.92 with a 24-hour volume of $2.24 billion, reflecting a decrease of over 1% in the last day and nearly 4% in the past week. While short-term direction remains ambiguous, spot Ripple ETFs continue to document gains since their launch on November 13, showcasing persistent market demand.