XRP has recently emerged from a multi-month descending wedge, signaling a potential reversal after the largest downward trend of 2025. Trading at $2.22, the cryptocurrency seems to be entering a new phase of bullish momentum.
This shift may indicate the end of the sustained price decline that began in January, setting the stage for further growth.
XRP holders continue to hold onto their assets.
The dominance of short-term holders has significantly decreased, indicating a positive shift in market dynamics for XRP. According to HODL waves, the volume held by investors who hold for 1 to 3 months has decreased from 12% to 6% over two months.
This shift indicates that more short-term holders have transitioned to medium-term holders, reducing the likelihood of immediate sales. This maturation of holdings is a positive sign as it indicates greater stability and less selling pressure in the short term, stemming from confidence in price recovery. The macro momentum of XRP shows promising signs as the cryptocurrency moves away from a potential 'death cross' that could signal a significant price drop. The 50-day exponential moving average (EMA) is currently rising, providing support for XRP as it moves away from bearish territory. The candles are also positioned above the 50-day EMA, signaling that the altcoin is gaining strength and may continue its upward movement.
The departure from the 'death cross' and the upward movement of the 50-day EMA provide technical evidence that the price of XRP may continue to rise. This shift in momentum, coupled with improving market sentiment, suggests that XRP is preparing for a potential rally. Investors will closely monitor these indicators as signs of further recovery. The price of XRP is aimed at growth.
XRP is currently trading at $2.22, emerging from nearly a 5-month descending wedge. If this breakout continues, it will signify the end of the largest downward trend of the year that began in January. The next key resistance level is at $2.38, and a successful breakout above this level may signal further upward movement for XRP.
If XRP maintains its current bullish trajectory, the altcoin could rise to $2.56 after breaking through resistance at $2.38. Turning $2.56 into support would further confirm the breakout and indicate that XRP is entering a more sustainable growth phase. This would set the stage for further price increases. However, if XRP fails to break through the resistance at $2.38, the price may revert to $2.02. Losing the support level at $2.16 would nullify the bullish thesis, signaling a potential reversal in sentiment and a resumption of the downward trend. The next few days will be crucial in determining whether XRP can maintain its upward momentum or face further declines.#Write2Earn #BinanceSquare #trading #Binance #BinanceAlphaAlert $XRP
