Ripples of Hope: XRP Looks For Bounce Despite Downtrend – Here’s The Latest Price Analysis

According to TheSignalyst, “XRP has been overall bearish trading inside the falling channel in red. However it is currently approaching the lower bound of the channel and a strong support at 0.54. As long as the support holds, we will be looking for short-term buy setups on lower timeframes.”

In other words, XRP has been in a downtrend but could see a short-term bounce if the $0.54 support level holds. TheSignalyst is watching smaller time frame charts for buy signals if this support is respected.

Further, TheSignalyst states: “For the bulls to take over from a medium-term perspective, we need a break above the last major high at 0.625. If the 0.54 support is broken downward, we will expect further bearish movement till the 0.5 support where we will be looking for new short-term buy setups.”

So a break back above $0.625 is needed to shift the medium-term outlook to bullish. But if $0.54 is broken, TheSignalyst sees downside to $0.50 as the next target before watching for bounce plays.

Analyzing the same price action, altFINS sees XRP trading within a falling price channel and notes that traders may initiate range trades between the channel boundaries. However, a breakout above or below the channel could spark a directional move.

Adding to the analysis, altFINS notes that while broader momentum remains bearish, there are subtle signs it could be bottoming out based on the bullish divergence on the MACD histogram. This suggests upside momentum may return soon.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +Show less –

Regarding key levels, altFINS highlights the following support and resistance zones to watch:

Support: $0.55 (prior resistance) $0.45

Resistance: $0.68 $0.92

If XRP can hold above support, especially $0.54 as TheSignalyst highlighted, both analysts see conditions that could favor a short-term trend reversal. However, the broader downtrend remains intact for now. A break back above resistance would be needed to signal a more lasting bullish shift.

You may also be interested in:

• Overnight Millionaires: How 4 Traders Cashed In Big On This Meme Coin
• Analyst Suggests Solana (SOL) Could Reach This Level Following Bull Flag Breakout
• Is Dogecoin ($DOGE) Preparing For An Epic Rebound After Holding 100-Day MA, Or Is This a Better Alternative? Here Are The Levels to Watch

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.

Buy NUGX Today

Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters

The post Ripples of Hope: XRP Looks For Bounce Despite Downtrend – Here’s The Latest Price Analysis appeared first on CaptainAltcoin.