XRP News Today: XRP's Spinning Bottom: A Bullish Signal Amid Market Turbulence

XRP holders are increasingly optimistic as technical indicators and market dynamics suggest the token is entering a pivotal phase. Analysts point to a consistent pattern of mean reversion since 2014, with XRP transitioning out of an undervalued cycle and potentially setting the stage for a new bullish phase [1]. This long-term cyclical behavior has historically been a precursor to significant price surges, reinforcing the growing belief that XRP is on the cusp of a major move [1].

Recent technical analysis highlights the formation of a "spinning bottom" pattern on XRP’s candlestick chart, a potential early sign of a bullish reversal. This pattern emerged after a sharp decline from XRP’s all-time high of $3.65 to $2.7 in mid-July. The pattern’s long upper and lower wicks indicate active participation from both bulls and bears, with neither side managing to dominate [2]. Analysts typically wait for confirmation of a reversal, which would come with a green candle closing above the pattern’s high [2].

In addition to the spinning bottom, XRP has also seen "back-to-back buy signals" from the TD Sequential indicator, a popular tool among traders. This has been interpreted by analysts as a sign that a rebound is in play [2]. Such signals are often seen in conjunction with broader market confidence, particularly among long-term holders. On-chain data reveals that 170 million XRP, valued at approximately $483 million, flowed to exchanges in a recent week, signaling heightened selling pressure. However, long-term holders have been stepping in to absorb this selling, providing critical support to prevent further downward movement [3].

Price-wise, XRP is currently trading within a narrow range between $2.85 resistance and $2.73 support [3]. If XRP can break above $2.85, the next key resistance levels lie at $2.95 and $3.04, according to recent forecasts [4]. A sustained close above $2.88 could open the door to further gains, while a failure to maintain $2.73 as support could lead to a retest of $2.64 [4]. The broader market environment also appears favorable, with a growing number of institutional participants showing interest in XRP, particularly as Ripple expands its global payment infrastructure and stablecoin initiatives [4].

Looking ahead, the market is closely watching the progress of XRP ETF applications under review by the U.S. Securities and Exchange Commission (SEC). If approved, these ETFs could significantly increase institutional demand for XRP and drive the price higher. Analysts project XRP could reach between $10 and $16 by the end of 2025 if all ETFs are cleared [4]. These developments, combined with strong on-chain accumulation and technical indicators, suggest that XRP is in the early stages of a new bullish cycle. For investors and traders, the "we’re just getting started" sentiment may not be mere optimism but a reflection of a well-documented market narrative.

Source:

[1] XRP Price Mean Reversion Model Hints at a Fresh Bullish Cycle (https://thetradable.com/crypto/xrp-price-mean-reversion-model-hints-at-a-fresh-bullish-cycle-ig--a)

[2] Ripple Forms Spinning Bottom Pattern: What Does It Mean for XRP’s Price? (https://cryptopotato.com/ripple-forms-spinning-bottom-pattern-what-does-it-mean-for-xrps-price/)

[3] XRP Sell-Off Nears $500 Million, Core Holders Offer Support (https://beincrypto.com/xrp-sold-this-week-but-critical-holders-act-as-saviour/)

[4] XRP Price Forecast: Ripple Targets $3 Breakout, ETFs and Stablecoin Catalysts (https://www.tradingnews.com/news/xrp-price-forecast-ripple-eyes-3-usd)