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XRP’s $2.80–$2.95 Support Zone May Influence Potential Short-Term Rebound Signals


  • Two classic bullish technical patterns signal a potential XRP price rebound.

  • The $2.80–$2.95 range remains a key support zone for sustaining upward momentum.

  • Analyst Cryptoes highlights this zone as critical for XRP’s short-term price direction.

XRP’s $2.80–$2.95 support zone signals a key reversal point; expect a 20% rally by August’s end. Stay updated with COINOTAG’s expert analysis.

What Are the Bullish Divergence Signals Indicating for XRP?

XRP’s charts reveal a bullish divergence on the four-hour timeframe, suggesting weakening sell-pressure and a potential trend reversal. The price is making lower lows while the Relative Strength Index (RSI) forms higher lows, a classic indicator that momentum may be shifting in favor of buyers.

Additionally, XRP’s daily chart shows a Dragonfly Doji candlestick pattern, characterized by a long lower wick and close price near the high, indicating strong buyer intervention after initial selling.

XRP/USD four-hour price chart showing bullish divergence
XRP/USD four-hour price chart. Source: TradingView
XRP/USD daily price chart showing Dragonfly Doji candlestick
XRP/USD daily price chart. Source: TradingView

How Does the $2.80–$2.95 Support Zone Impact XRP’s Price Outlook?

The $2.80–$2.95 range is identified by analysts as a make-or-break support level for XRP’s short-term momentum. Maintaining this zone could preserve bullish momentum, potentially triggering a rebound similar to the 65% rally seen after a similar candlestick pattern in April.

Expert analyst Cryptoes emphasizes that holding above this support is essential for XRP to sustain its upward trajectory through August.

XRP support zone analysis by Cryptoes
Source: Cryptoes

What Does the Falling Wedge Pattern Suggest About XRP’s Next Move?

XRP is currently forming a falling wedge pattern on the four-hour chart, a bullish reversal setup that often precedes upward price breakouts. The price recently bounced off the wedge’s lower boundary near the 200-4H exponential moving average (EMA), indicating strong buying interest at this support level.

XRP/USD four-hour price chart showing falling wedge pattern
XRP/USD four-hour price chart. Source: TradingView

If XRP breaks above the wedge’s upper trendline, a 20% rally toward the $3.60–$3.65 resistance zone could materialize, aligning with the 0.236 Fibonacci retracement level near $3.07. This scenario suggests a strong upside potential in the coming days.

Frequently Asked Questions

What is the significance of XRP’s $2.80–$2.95 support zone?

This support zone is critical for XRP’s short-term price stability. Holding above it may trigger bullish momentum, while a breakdown could lead to further declines.

How likely is XRP to experience a 20% price increase soon?

Technical indicators and chart patterns suggest a strong possibility of a 20% rally by the end of August, provided key support levels hold.


Key Takeaways

  • Two bullish technical patterns—bullish divergence and Dragonfly Doji—signal potential XRP price recovery.
  • $2.80–$2.95 support zone is a critical make-or-break level for sustaining upward momentum.
  • Falling wedge breakout could trigger a 20% rally toward $3.60–$3.65 if confirmed.

Conclusion

XRP’s $2.80–$2.95 support zone is pivotal for its short-term price trajectory, with multiple bullish signals pointing to a possible rebound. Maintaining this level could lead to a significant rally by August’s end, making this period critical for traders and investors monitoring XRP’s momentum.


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