XRP has staged a notable recovery from the $1.70 low, currently trading near $1.9369 on the 4-hour chart. This rebound comes after a deep selloff, and recent price action suggests early signs of a trend reversal. However, key resistance at $2.03 remains a strong ceiling for bullish continuation. Multi-timeframe analysis (1H, 30M, 15M, and 5M) supports a cautiously optimistic outlook, with several bullish patterns in play.
Major Price Patterns
- Double Bottom (4H & 1H)
XRP has formed a double bottom between $1.70 and $1.75, signaling a potential medium-term trend reversal. The neckline lies around $1.93–$1.95, and a clean breakout with volume could push price toward $2.03 and higher.
- Bullish Pennant (30M)
A consolidation in the form of a bullish pennant has emerged following the initial spike from $1.70 to $1.93. A breakout from this pattern could send XRP back to test the $2.03–$2.24 zone.
- Falling Wedge (15M)
XRP broke out from a falling wedge on the 15M chart, suggesting bullish momentum is gaining traction. This microstructure supports the short-term upside move toward the psychological $2.00 level.
- Rounded Bottom (1H)
The rounded base observed across 1H reflects accumulation and gradual transition from bearish to neutral-to-bullish sentiment.
- Micro Inverse Head & Shoulders (5M)
On the 5M timeframe, a tiny inverse H&S structure has formed, providing near-term bullish impulse that aligns with the breakout attempt.
Indicators
- MACD (4H & 1H):
The MACD shows a fresh bullish crossover with histogram turning positive. This indicates momentum has shifted back toward buyers after a prolonged bearish phase.
- Bollinger Bands:
Price has moved from the lower band to above the midline on 4H and 1H charts, showing reversion to the mean. Expansion of the bands suggests increasing volatility as price tests resistance.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
- RSI:
RSI on 1H and 4H charts is approaching 60, indicating a rising bullish bias but not yet overbought—leaving room for further upside.
- Volume:
Volume surged during the bounce from $1.70, but recent candles show modest participation. Sustained momentum depends on volume expansion above $1.95.
Key Support & Resistance Levels
- Support: $1.85, $1.80, $1.70
- Resistance: $1.95, $2.03, $2.24
Fundamental Outlook & Rebound Timeline
XRP’s performance continues to hinge on the legal battle with the SEC, which remains unresolved. Nonetheless, Ripple’s real-world partnerships in payments and CBDC development provide underlying strength. Broader market conditions, especially BTC’s trend, will influence XRP’s pace of recovery.
If $2.03 is reclaimed soon with strong volume, XRP could aim for $2.24 in the coming week. As for the long-term $10 target, that would likely require a macro Bull Run post-SEC resolution, with significant adoption catalysts—possibly achievable in 2025 during a strong altseason or utility-driven rally.
XRP maintains a bullish recovery stance while above $1.85. Breakout above $2.03 could confirm medium-term reversal. Eyes are now on volume confirmation and reaction at $1.95–$2.03 resistance to fuel the next leg upward.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News