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The XRP price has tested our patience for weeks. The coin is down about 18% in the past month and about 4% in the last 24 hours. He spent most of his time in a narrow range, which made the last few weeks seem dull and frustrating.
But the last step shows something that the previous attempts did not. The chart signal and a change in the holder’s behavior now indicate a rebound that may have enough support to sustain it.
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A new signal suggests that buyers may be coming back
Done Trade XRP Between $2.28 and $1.98 from the end of November. This range shows that buyers and sellers are evenly matched. But the lower part of this range has recently produced something new. The price touched the lower trend line of a symmetrical triangle. A symmetrical triangle forms when buyers and sellers slow down at the same rate, which often indicates an aggressive move.
The first strong evidence comes from the volume trend. Between December 6 and 11, the price made a lower low, but the balance volume (OBV) made a higher low.
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The OBV measures whether volume is flowing into or out of the currency. When the price goes down, but the obvious price goes up, it shows the hidden accumulation. This usually means that someone is buying dips even when the chart looks weak. This is the first sign that a takeover attempt may be occurring.
This combination of triangle support and OBV divergence indicates a return of initial buying pressure.
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Because this rebound could ultimately continue if selling pressure continues to ease
A clean rebound, if it occurs, also requires less selling pressure. Long-term holders, often the strongest group in any currency, cut their sales sharply. On December 3rd, they transferred 101,083,156 XRP. By December 10, this number had dropped to 51,157,301 XRP. This equates to about 49% of the reduction. They are still net sellers, but the selling pressure is starting to ease at a noticeable rate.
The third most interesting piece of evidence comes from the fastest wallets. often These holders sell XRP bonds The short term in any attempt destroys the momentum. But this time, they cut the supplies. This is evident from the HODL meter, which shows the withheld supply based on the age of the group.
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The 24-hour group had 1.89% supplies on December 2. As of December 10, that number had dropped to just 0.22%.
The weekly payment rose to 3.88% on December 4th, and fell to 1.24% by December 10th.
When long-term holders sell less and very short-term holders (speculative money) exit the market, this allows price rallies to continue.
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XRP price levels that will confirm or break an XRP rebound
Trading XRP Close to $2.00 and still in a wider range between $2.28 and $1.98. For the rebound to gain strength, XRP must cross $2.17 first. This level, about 8.37% high, is the control point that determines the next payment. A daily close above it improves the chances of testing the top of the range.
A move above $2.28 would confirm a range break. This will allow the price of XRP to finish higher.
On the other hand, the risk is close. Closing the daily candle below $1.98 weakens the entire bullish setup. If it breaks, the chart opens a path towards $1.88. This is the next major support.
