- XRP shows a potential bullish reversal, targeting $2.55 if the market absorbs corrections.
- Rose’s analysis predicts a rise to $4.00 after a pullback to $1.93.
- Liquidation trends highlight market volatility, impacting XRP’s price movement.
XRP has been the subject of various technical analyses, highlighting a mix of bullish and bearish signals for the asset. Currently trading around $2.20, the cryptocurrency has demonstrated notable price movements recently.
Dark Defender’s analysis indicates a bullish pin bar forming on the daily chart, which suggests a potential reversal toward $2.55. This pattern often signals a shift in market sentiment, offering a more optimistic outlook for XRP’s price in the short term.
If this reversal occurs, XRP could begin to build momentum for higher targets. However, this move will depend on how well the market absorbs recent corrections.
Rebound Targeting $4.00
According to Rose, another analyst monitoring XRP/USDT, the price chart shows a potential bullish continuation after a correction phase. Trading at $2.27, an identified rebuy zone is expected at $1.93. This area represents an ideal entry point for those seeking to capitalize on a potential upward move. Rose’s analysis further suggests that the ultimate target for this setup could reach $4.00, indicating substantial upside potential.
XRP’s Liquidation Trends and Market Sentiment
Market sentiment for XRP has been impacted by significant liquidation trends. The XRP Total Liquidations Chart reveals notable patterns of both long and short liquidations. From July to early November, liquidation levels remained relatively low, reflecting a period of stability.
However, a surge in liquidations occurred between November and December, marking a period of intense volatility. In particular, short liquidations spiked during a price rally, while long liquidations increased during a subsequent correction. This indicates that over-leveraged positions played a significant role in recent price swings.
Key Indicators Suggest Mixed Momentum
With the Relative Strength Index (RSI) for XRP at 44, a slight bearish momentum is expected. However, it is not yet in oversold territory. If the RSI dips below 30, this could signal a reversal.
Additionally, the Moving Average Convergence Divergence (MACD) line is near the signal line, indicating a lack of clear momentum. A bullish crossover could trigger an upward move, while a bearish crossover may lead to further price testing at support levels.