Recent analysis suggests XRP could be at the beginning of a bullish trend if it closes at current levels or higher.
Bullish Engulfing at a Higher Low
A bullish engulfing candle occurs when a larger green candle completely engulfs the previous week’s red candle, indicating strong buying pressure. This pattern, especially when formed on a higher low, is often seen as a reliable indicator of a shift in market sentiment. In XRP’s case, this could be the clearest sign yet that the downtrend has run its course and accumulation is nearing completion.
Critical Resistance Ahead
XRP currently sits just below a long-standing descending trendline. A move of roughly +8% from current levels would push the price above this resistance—a key technical milestone. Breaking through the trendline could unleash significant upside momentum, as XRP has historically made aggressive moves once major resistances are cleared.
Consolidation May Be Ending
XRP has spent months trading within a tight range, frustrating both bulls and bears. However, this extended period of low volatility and accumulation often precedes explosive moves. Recent price action shows that buyers are gradually stepping in, and the structure of higher lows suggests growing confidence.
In summary, if XRP can secure a strong weekly close and push above the descending trendline, it could mark the start of a major bullish phase.
