XRP Price Shows Signs of Life — Here’s Why It Might Be Done Falling
Despite a recent 23% drop, XRP shows recovery signs supported by investor exhaustion and bullish technical divergences, suggesting the decline may be over.Summary
XRP's price has recently fallen by nearly 23% over the last month, but it has recently risen 6% in 24 hours, indicating potential recovery. On-chain data suggests selling pressure is fading, as the Short-term Holder Net Unrealized Profit/Loss (NUPL) hit a one-year low of -0.20, mirroring previous bottoms that led to significant rallies. The Long-term holder NUPL also dropped to a six-month low, signaling widespread holder fatigue.
Technically, the Relative Strength Index (RSI) shows a hidden bullish divergence between April and October, suggesting underlying strength remains despite recent weakness. Furthermore, the completion of three 'death crossovers' in moving averages often signals the end of a bearish phase. For a confirmed recovery, XRP needs to close above $2.44, with a decisive move above $2.59 potentially targeting $2.82 and $3.10. However, a drop below $2.28 could lead to retesting support at $2.08 or $1.77.
(Source：BeInCrypto)