XRP Shows First Bullish Momentum Since September

XRP is trading close to $1.31, marking the first sign of buyer strength in the market since September. Throughout October, the token declined, falling from around $1.55 to a low of approximately $1.25. It has now shown a green daily candle and is beginning to recover. Although the upward movement is small, it is significant. For several weeks, every attempt to rise was immediately halted. Red candles dominated the chart, and the price continued to decline, showing increasingly lower highs. A green close after a sharp drop indicates that selling pressure is weakening at this level.

The area from $1.25 to $1.30 acts as support. XRP touched this zone and quickly bounced off it, leaving an extended lower wick on the candle. This wick signals that buyers stepped in and absorbed the selling volume. Earlier in September, this same area supported the price before a strong rally to $1.65. The next step – overcoming resistance. The orange moving average is close to $1.33, slightly above the current price. XRP needs to close above this level to confirm the strength of the rebound. Above this level, the blue and black lines are grouped in the range of $1.37 to $1.38. This area is a strong resistance level where many moving averages converge, and the price did not hold above this level during the last decline.

The Relative Strength Index (RSI) is close to 40, indicating weakness but not an oversold condition. This means the rebound is not coming from extreme levels, and there is potential for growth if buyers maintain a controlling position. However, volume is still low. For a true recovery, higher volume on up days is needed. For bulls, the main target is a daily close above $1.33. After that, the path opens to $1.38 and then to $1.45. If XRP loses the $1.25 level, the rebound will fail, and the price could drop to $1.20 or lower. At the moment, the trend is still downward, but the first bullish signal in weeks has appeared. The next couple of daily candles will show whether this is a true reversal or just a temporary pause before another drop.