Ripple moves 250M XRP from Escrow: what the transfer could mean for XRP supply and market balance | Credit: Hameem Sarwar/CCN.com
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Key Takeaways
XRP rebounds 12% but remains trapped in a triangle structure.
Indicators show mixed signals, with rising dormancy and weak sentiment.
XRP’s price needs to break above $2.32, or it risks dropping to $1.79.
After enduring several weeks of sideways consolidation, XRP’s price has finally delivered its strongest surge in weeks.
Recently, the altcoin dipped below $2, raising concerns of a deeper breakdown. However, those fears did not materialize.
Instead, XRP has bounced back, climbing 12% over the past seven days.
For some analysts and traders, this rebound signals the possibility of renewed momentum, perhaps even a push toward its all-time high.
However, not everyone shares that optimism. A portion of the market believes the latest price jump could be nothing more than a bull trap, luring buyers in before a potential reversal.
So which is it? The early stages of a breakout, or a deceptive rally masking weakness? Let’s take a closer look.
The last time the altcoin managed to close a week in the green was during the previously mentioned period from Oct. 20 to 27.
During that time, its price climbed from $2.40 to $2.64.
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Meanwhile, this week’s rebound has allowed XRP to push back above the support zone, offering the first sign of strength in nearly a month.
However, despite this upward move, the chart below shows that XRP remains confined within a symmetrical triangle.
This structure reflects continued compression and indecision between buyers and sellers.
When examined closely, the weekly chart shows that Moving Average Convergence Divergence (MACD) has formed a bearish crossover.
Because XRP’s price remains confined within the symmetrical triangle, the chart suggests that the $1.93 support level may not be as strong as it once appeared.
If this trend continues, it could weaken the current rally and increase the likelihood that the recent rebound is closer to a temporary top rather than the start of a sustained breakout.
On one hand, the altcoin has managed to break out of a falling channel. This breakout aligns with activity in the Chaikin Money Flow (CMF), which has climbed above the zero line.
However, not all indicators are aligned with this optimistic view. Despite the improving CMF and the channel breakout, Holders Sentiment remains negative.
This divergence between price action, inflows, and sentiment suggests that XRP’s path forward may not yet be established, and sustained momentum will require stronger conviction from market participants.
Should buying pressure increase, XRP’s price might hit $2.32 at the 0.382 Fibonacci level. In a highly bullish market condition, the market value might rise to $3.18.
On the other hand, if selling pressure intensifies, this prediction may not materialize. In that scenario, XRP might decline to $1.79.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
