After a brief period of consolidation and the threat of a break below the psychological $2 level, XRP is starting to show signs of bullishness. The cryptocurrency has recovered by 2% in the past 24 hours, even reaching an intraday peak of $2.20, which has allowed it to maintain a strong position above its critical support zone despite recent downward pressure.
Notably, an interesting technical analysis on the TradingView platform indicates that XRP is on the verge of entering a bullish continuation path towards $4.
Low Volatility Points To Shift From Bearish Momentum
Recent price action has shown bullishness slowly creeping back into XRP’s market behavior. Crypto analyst MasterAnanda on TradingView has observed a strange XRP signal on the daily candlestick timeframe chart. While the term ‘strange’ might evoke concern, it is in fact a bullish indicator.
According to MasterAnanda’s analysis, the chart has transitioned from periods of high volatility and sharp swings—particularly noticeable from December through early April—to a phase characterized by smaller candles and narrowing price action. From April 13 to April 21, XRP’s daily candlesticks became significantly smaller, highlighting minimal volatility even as the price incrementally moved upward. This upward movement was substantial enough to break above a downward sloping resistance trendline that had previously dictated lower highs since January.
A similar phenomenon occurred around April 28, when the price drifted slightly lower over the following week but consistently refrained from forming new lows. This behavior, where price consolidates without breaking down, is often interpreted as a bullish continuation pattern and points to the conclusion that bearish momentum has waned. No bearish action translates to no bearish momentum; instead, we see consolidation preceding additional growth.
Consolidation Before Expansion: The Bullish Case For XRP
The chart accompanying MasterAnanda’s analysis reinforces this outlook. XRP has consistently bounced from a clearly defined support zone around the $2.00 mark since April 16. The highlighted accumulation area on the chart indicates that buyers have continually stepped in during price dips toward this region.
Moreover, each consolidation phase following the $1.61 low on April 7 has produced a higher low, further corroborating a bullish structure. As the price remains respectful of this zone, it establishes a solid foundation for a potential upward breakout.
The analyst has projected a move towards $4, citing a steep upward trajectory once the current range breaks to the upside. The green arrow marked on the chart above points directly toward this optimistic target.
At the time of writing, XRP is trading at $2.17, up by 2% in the past 24 hours.
