Market Strategist: I Have Insane News for XRP Holders

As XRP continues to consolidate following recent price fluctuations, market participants remain focused on identifying where the asset may head next.

Crypto commentator Steph Is Crypto believes the answer may lie in a combination of technical indicators that, according to his analysis, are beginning to align in favor of a bullish reversal.

Sharing his latest outlook on X, Steph pointed to a long-standing support trend line, a bullish RSI divergence, and a developing chart pattern that could set the stage for a significant move if key resistance levels are overcome.

Long-Term Trend Line Remains Intact

During the video, Steph first directed attention to XRP’s weekly chart, emphasizing the importance of examining higher timeframes before focusing on short-term market movements.

According to the analyst, a trend line in place since July 2024 continues to provide strong technical support for XRP. He noted that substantial upward moves followed past interactions with this trend line, including rallies in 2024.

Steph stated that XRP is currently trading directly atop the trend line and has closed several weekly candles above it. He described this as a positive development that could support a larger move upside if current conditions remain intact.

The commentator also highlighted a bullish divergence on the weekly Relative Strength Index (RSI). He explained that while XRP’s price recorded a lower low, the RSI formed a higher low, a pattern often viewed by technical analysts as a sign of strengthening momentum.

According to Steph, this divergence suggests that buyers are becoming more active while selling pressure appears to be weakening. Based on that interpretation, he believes XRP could eventually experience a significant reversal.

Short-Term Consolidation Under the Spotlight

While maintaining a bullish outlook on the broader trend, Steph cautioned that traders should closely monitor short-term price action.

He pointed to XRP’s recent breakout from what he described as an ascending triangle or W-pattern formation, noting that the move successfully reached a previously projected target around $1.30. Following that achievement, XRP declined by roughly 6% to 7%.

Steph explained that XRP is now consolidating within what could be interpreted as a bull flag, bull pennant, or falling wedge. He argued that these formations often precede strong directional moves after a breakout.

For downside risk, the analyst identified a support zone between approximately $1.17 and $1.19. He said this area previously acted as significant resistance and could now serve as support if XRP moves lower before resuming its upward trend.

Break Above $1.23 Could Open the Door to Higher Targets

Looking ahead, Steph identified $1.23 as the key resistance level to watch. He stated that one or two four-hour candle closes above that level could confirm a bullish breakout.

If that scenario unfolds, the analyst said his immediate target would be between $1.37 and $1.40. He explained that reaching that zone would place XRP back within a trading range it occupied during the previous three months.

Steph concluded that a successful return to that range could strengthen XRP’s market structure and potentially set the stage for a larger bullish phase if momentum continues to build.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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