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Over the past week, the price of XRP came under pressure and slipped by as much as 7%. But those calling for the start of a bear market and betting on XRP to go lower are setting themselves up for disappointment.
The weekly chart still says otherwise. Bollinger Bands show XRP clinging to its midline around $2.76, and as long as that line holds, the play is to the upside. The lower band sits at $1.86, the upper at $3.54, and the token has refused to give up the middle ground.
That makes the top end of the channel far more likely than the collapse the crowd is hoping for.
The RSI is sitting near 52, neutral and with room to move; nothing is blocking a push toward the $3 handle.
Bottom line for XRP price
Examine the situation from a broader perspective, focusing on the candles, and it becomes evident that the same pattern recurs. July’s rally pushed XRP toward the top of the band, and every subsequent pullback has been contained before it could break through the midband. This is how a bullish structure survives.
The math is simple: bands frame the battlefield. XRP has not surrendered the line that keeps the higher target valid. The chart itself shows the road to $3.54 is open.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team