Despite recent volatility, many analysts believe XRP has not yet entered a long-term downtrend. Technical indicators suggest there are still bullish signals as long as key support levels are maintained.
Over the past five days, XRP has dropped nearly 7%, falling from around $2.20 to a low of approximately $1.90 before rebounding to $2.06. This decline was largely attributed to rising geopolitical tensions, particularly U.S. airstrikes on Iranian military sites.
Veteran trader Peter Brandt pointed out the potential formation of a Head-and-Shoulders (H&S) pattern—a classic bearish signal. However, he cautioned against drawing hasty conclusions. A confirmed bearish scenario would only be valid if XRP closes the week below the crucial $1.80 support level.
On the other hand, analyst EGRAG CRYPTO remains optimistic, using multiple indicators such as the Gaussian Channel and the 21-week EMA. According to EGRAG, staying above $1.75 (the lower bound of the Gaussian Channel) is essential to maintain bullish momentum.
Furthermore, the resistance levels at $2.33 (21-week EMA) and especially $2.65 are critical. A breakout above these levels could signal a strong bullish trend. Based on Elliott Wave theory, EGRAG projects XRP could reach $9–$10 if the altcoin completes its fifth wave and maintains current support levels.
In the short term, however, technical indicators show selling pressure remains high. The Accumulation/Distribution (A/D) line—used to track buying and selling pressure—dropped sharply as XRP approached $1.90. It has since stabilized, indicating some buying interest is returning, but the recent accumulation hasn’t yet offset the previous distribution.
Similarly, the Chaikin Money Flow (CMF) indicator turned negative during the sell-off and, although slightly improved during the rebound, remains below zero—suggesting investors are still cautious.
