XRP Shows Signs of Bullish Turnaround Amid Slight Dip

XRP experienced a modest decline of over 1% today, but analysts suggest that the cryptocurrency may be on the cusp of a bullish reversal. Technical indicators, including a break above a previous high in the Relative Strength Index (RSI), have sparked renewed optimism among traders. Crypto analyst Josh from Crypto World stated that these signals could mark the end of the ongoing bearish trend, especially if major cryptocurrencies like Bitcoin and Ethereum continue their upward momentum.

Despite today’s pullback, XRP is currently testing a critical resistance zone between $2.45 and $2.46, which lies within a long-standing downward price channel. A sustained breakout above this level is yet to occur, and until then, short-term resistance is expected to remain firm. On the downside, support is seen around $2.31 to $2.33, with stronger safety nets near $2.17 and between $2.05 and $2.10 should the decline deepen.

Adding to the bullish case is a long-term Elliott Wave pattern, which suggests that a major triangle formation, dating back to the 2017–2018 cycle, has recently resolved with an upside breakout. This could be the beginning of a larger fifth wave rally, consistent with historical market behavior.

On the daily chart, XRP appears to have completed a five-wave rally from its April 7 low, peaking near $2.46. While further gains toward $2.56 or even $2.68 are plausible, analysts caution that a drop below $2.26 might trigger a corrective wave, signaling that the current uptrend is taking a pause.