XRP is currently exhibiting several bullish technical signals that suggest potential upward momentum in the near term.
📈 Key Bullish Indicators
Bull Flag Pattern: XRP has formed a bullish flag pattern, a continuation pattern that often precedes upward price movements. A breakout above the upper boundary could lead to a move toward the next major resistance zone near $2.90 .
Descending Channel Breakout: Analysts note that XRP is navigating through a descending channel, which can indicate a potential bullish breakout. A successful breakout might propel XRP to $3.66, driven by increasing buy pressure .
MACD and RSI Indicators: The Moving Average Convergence Divergence (MACD) has flipped bullish, with the MACD line crossing above the signal line, marking a green histogram for the first time in weeks. The Relative Strength Index (RSI) is also trending upward, indicating strengthening momentum .
Whale Accumulation: On-chain data suggests that large holders (whales) are accumulating XRP, which often precedes significant price movements. This accumulation aligns with bullish technical indicators, reinforcing the potential for an upward trend .