- Bearish Shift Confirmed XRP price action: bullish shapeshifts bearish after soaring to $3.60, after a compelling sell sign on the 3-day chart.
- Critical Support at 2.40, Trading activity shows that the level of 2.40 is highly significant and may be able to slow down or even reverse this current downtrend.
- The MACD crossover indicates that a rebound is in the charts, and the resistance is attempting to form above the $3.00 psychological barrier.
XRP’s price action then becomes bearish after recent highs, and the technical indicators show that a potential short-term recovery is being established. The coin has dropped drastically after a sell signal on the 3-day graph at $3.60. Nevertheless, the tide is starting to turn, with a chance of recovery from the present positions.
The TD Sequential indicator triggered the reversal after printing a 9 count at the peak, signaling trend exhaustion. This has pushed the XRP price action’s turn to a bearish narrative into focus, with sellers dominating the recent sessions. Yet, the emergence of early bullish momentum offers a counterpoint to the recent decline.
Volume profile data highlights vigorous trading activity near $2.40, marking it as a critical support area. If XRP price action turns further bearish, this zone could serve as a key level for stabilization. A break below it may open the door to deeper losses toward previous consolidation levels.
Short-Term Chart Signals
On the one-hour timeframe, price action in XRP becomes bearish, and this is still showing itself in the bearish move in price above $3.20, currently down to around $2.86. The bear trend has established lower highs and lows, which cements the short-term bearishness. Nevertheless, the MACD has begun to enter a positive zone, which is suggestive of short-term recovery.
Volume analysis reveals a big peak when the price collapsed to enter the region around $2.80, which indicates strong selling. Ever since, there has been a decrease in the price action of XRP, which has become negative, and lighter volumes have emerged. Maintaining a position above nine tenths (2.90) would be another potential way to entertain a reinstitution of resistance above three (3.00).
Momentum indicators are coming back together, which may indicate a short-term reversal by the buyers. Nonetheless, unless current gains are retained, the price action of XRP would go downward and revisit previous lows. The market participants will seek confirmation of a breakout before they commit to a long market correction.
