Although the $XRP price has seemed to be following a quiet and sideways trend in recent weeks, technical indicators reveal that there is a great potential for an uptrend beneath this calmness. In particular, CoinDesk analyst and technical expert Omkar Godbole's assessment points out that #XRP is quite similar to Bitcoin's technical structure before the huge rally it experienced at the end of 2024.
๐ Bitcoin 2024: The Explosion After Silence
#bitcoin 's price action in the summer of 2024 is still fresh in mind. At that time, BTC followed a sideways trend in the $ 59-60 thousand band for weeks, while the MACD histogram gave bearish signals. However, the price did not fall. This situation is known as "price-MACD divergence" in technical analysis and shows that buyers are still dominant in the market. The result? The upward wave that started in mid-September carried the BTC price above $ 100 thousand in November 2024.
๐ Is the Same Scenario Being Repeated in XRP?
Those looking at the XRP chart today are faced with a similar view. The weekly MACD histogram fell below zero in the first week of March, giving a classic bearish signal. However, the expected decline has not occurred since then. The XRP price is moving sideways between $ 2.00 and $ 2.60. In other words, despite the bearish signals, the price still remains strong.
This divergence makes the similarity with the Bitcoin chart in 2024 even more striking. According to analyst Godbole, this situation may be a harbinger of a very strong bullish scenario from a technical perspective.
๐ Moving Averages Support the Rise
Another technical signal that stands out in Godbole's analysis is the upward trend of XRP's weekly 50-, 100- and 200-simple moving averages (SMA). Such scenarios show the confidence of long-term investors in the market and form the basis for strong trend reversals.
50-Week SMA: Indicates that short-term momentum is still positive.
100-Week SMA: Supports price stability and buying interest in the medium term.
200-Week SMA: Indicates strong support level and bullish ground in the long term.
๐ง MACD Divergence: Will the Bulls Prevail?
Although the MACD indicator usually indicates weakness in momentum, when the price rejects this signal, it is considered a โbullish divergenceโ. In the case of XRP, the MACD histogram is falling while the price remains stable. This shows that sellers are ineffective and the bulls are in control.
Such divergences have been recorded as the leading signal of many major rallies in the past. Similar scenarios experienced in major cryptocurrencies such as Bitcoin, Ethereum and Solana may be promising for XRP.
๐ How Strong is the Rally Probability for XRP?
According to Godbole, from a technical perspective, a break above $ 3.00 in the XRP price may indicate the beginning of a new upward period. In this scenario:
First resistance level: $3.40 - $3.50
Mid-term target: $4.20
Long-term potential: $5.00 and above
Of course, this analysis represents a possibility based on technical data. The market may evolve in different directions due to external factors (e.g. SEC lawsuit, global regulations, Bitcoin price). However, the current structure offers a promising picture for XRP investors.
โ Conclusion: Will History Repeat?
Bitcoin had a big rise in 2024 despite silent MACD signals. Now XRP is facing us with a similar technical structure. MACD is falling, but the price is resisting. SMAs are curling up. The market is not falling because the bulls are not giving up.
For XRP investors, this may be the footsteps of a big move.o
๐ Remember: Every technical analysis shows a possibility, not a guarantee. However, the similarity Godbole pointed out could indicate that XRP is preparing for the next big leap.
