Recent analysis of XRP's price indicates a potential for short-term recovery based on a range of technical signals.
TD Sequential Signals a Possible Bounce
On the latest hourly chart, XRP has been forming lower candles, ending with a strong red candle that dips to around **$2.31**. This candle is marked by a **‘9’**, which is part of the TD Sequential system, suggesting a possible direction change. There is also a green arrow shown on the chart around the **$2.29 zone**, indicating a possible support area.
What Other Indicators are Saying
Analysis of other technical indicators also reveals interesting trends:
**Ultimate Oscillator: 42.5** This reading indicates weak momentum, but it is not in oversold territory.
**Rate of Change (ROC): 28.1** This shows strong upward movement in the recent period, despite the current drop.
**Commodity Channel Index (CCI): -24.9** This reading suggests XRP is neutrally positioned, with room to move higher.
**MACD (12,26): 0.052** The MACD has crossed into positive territory, indicating that bullish momentum could be building.
XRP Price Prediction for the Coming Days
These technical signals point to a likely bounce as long as XRP holds support around **$2.29**. If that level remains firm, XRP could climb back towards **$2.40 or $2.50**. If XRP fails to maintain that support, the downside scenario could develop. However, current indicators suggest that such an outcome is less likely.
XRP's price has shown volatility, but recent technical signals indicate positive trends. If the support at **$2.29** holds, it could lead to short-term growth.
