2024

Captain

<ul>
 <li>XRP recently broke down from a crucial 440-day ascending support trendline.</li>
 <li>The coin climbed alongside rising support since November 2022.</li>
 <li>Despite breaking through the ascending trendline and a horizontal support zone in February 2024, XRP has turned upward.</li>
</ul>
<p>The <a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noopener noreferrer nofollow">XRP</a> price recently broke down from a crucial 440-day ascending support trendline, but has managed to reclaim it this week, raising prospects of a bullish trend reversal materializing soon. The question now is whether XRP can sustain its rally to cement the outlook.</p>
<p>Analysis of the weekly price charts shows XRP has climbed alongside rising support in place since November 2022. This upward move ultimately tapped $0.94 in July. However, selling pressure intensified thereafter, causing prices to decline.</p>
<p>In February 2024, XRP broke through both its long-standing ascending trendline and a separate horizontal support zone. Yet in recent days, the price has turned upward once more, reclaiming both the 440-day trendline and the horizontal area.</p>
<p>The weekly Relative Strength Index (RSI), a momentum indicator, also shows early signs of bullish momentum returning. Having rebounded off oversold levels below 50, the RSI is now angling upward while crossing 50 into bullish territory – signaling accumulating strength.</p>
<h2 class="wp-block-heading" id="h-analysts-favor-xrp">Analysts favor XRP</h2>
<p>Crypto analysts on X also view the recent price action favorably for XRP’s outlook. CaptainFabik notes XRP appears poised to break out of a large multi-month symmetrical triangle pattern. A successful breakout here would likely ignite significant volatility on the upside.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> is Bouncing Back Nicely.. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/CfDaT7d8Vt" rel="noopener noreferrer nofollow">https://t.co/CfDaT7d8Vt</a> <a href="https://t.co/wAw2hbxbBM" rel="noopener noreferrer nofollow">pic.twitter.com/wAw2hbxbBM</a></p>— Captain Faibik (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1758360578488209627?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 16, 2024</a>
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<p>Zooming into the daily charts reveals similarly encouraging signals percolating right now. XRP has traded inside a descending channel since November, typically containing corrective movements.</p>
<p>The daily RSI also reflects building bullish momentum. With the indicator back above 50 and ticking higher now, upside appears to be the path of least resistance presently.</p>
<p>If XRP decisively cracks channel resistance in the coming week, prices could embark on a 25% climb towards the next barrier at $0.70, according to analysis. However, failing to clear $0.55 risks triggering an 18% fallback.</p>

Ripple: XRP Reclaims Key Support, Eyes Higher Level in February

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