XRP Shows Signs of Potential Bull Run Similar to BTC’s Past Performance
Technical Analysis Summary by Omkar Godbole
Current market conditions for XRP and BTC show resilience despite bearish signals, indicating potential upward momentum.
XRP Analysis
- XRP price fluctuates between $2 and $2.60, with some dips below $2.
- Weekly MACD crossed below zero in early March, signaling a downtrend.
- However, no pronounced downtrend has emerged, suggesting underlying strength.
- MACD divergence implies strong buying interest, absorbing selling pressure.
- Support from upward-sloping 50-, 100-, and 200-week simple moving averages.
BTC Historical Context
- Similar MACD divergence observed in BTC last year during the summer.
- BTC remained range-bound around $59,000 before rising to $70,000 and exceeding $100,000.
- Potential for XRP to follow a similar bullish trajectory.
