Technical indicators are positive but not decisive, since they have not yet confirmed their breakouts.
The Relative Strength Index (RSI) and Moving Average Convergence/Divergence are increasing but are close to their bullish thresholds at 50 and 0, respectively.
Therefore, the daily time frame analysis leans bullish, but does not confidently predict that the XRP price will continue to increase toward $2.50.
XRP Looks for Support
The shorter-term six-hour analysis supports the bullish trend reversal.
XRP’s wave count illustrates that the price has completed a five-wave upward movement since April 7.
The rally had an ascending wedge shape, indicating a leading diagonal.
The increase could be either wave A or wave one in a larger structure in the long term.
Both possibilities suggest that at least another upward movement will follow.
The short-term XRP prediction is the same, regardless of which count plays out.
The RSI’s lack of a bearish divergence in the higher highs supports this count since one would be expected if XRP were to begin a bearish trend reversal.
XRP Struggles Against Bitcoin
XRP might be showing strength in USD terms, but it’s telling a different story when charted against Bitcoin.
On the daily XRP/BTC chart, the price has been stuck inside a descending triangle since January, and key support around 2,350 satoshis is now being tested.
The technicals aren’t promising: the RSI is sliding, and the MACD has made a bearish cross.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
