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The price of XRP has risen almost 26% since November 21, but the move has been muted as the price continues to falter at a level. Now the structure looks more interesting. Buying pressure on the exchanges has increased tremendously in the last eight days, and the recent bearish blow has failed to push the XRP price below the support.
The price of XRP has been placed under a large barrier that has stopped any attempt since mid-November. If this level is broken, the whole trend could reverse.
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The support is intact as the falling wedge continues
The price of XRP continues to trade in a bearish pattern, which is a bullish pattern that narrows as the price moves lower. Wedges like these usually break higher when buyers show strength.
The lower range at $2.14 has absorbed all selling attempts since November 25. Even when a bearish crossover between the 100- and 200-day EMA has been completed, XRP has not broken. The EMA is a moving average that gives more weight to recent candles, and bearish crossovers usually add pressure. The fact that the price remains flat shows that sellers lack momentum.
At the same time, the XRP price began to struggle with higher volumes. The Balance Volume (OBV) line has broken above the downtrend trend line that has been restricting volume since November 10. OBV measures whether volume is entering or exiting a currency. An advance means more volume is entering the market. This change often appears before major resistance is broken.
However, confirmation is required for hacking. OBV should rally higher by breaking the immediate resistance level at 6.64B.
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To trigger an upward move, XRP price still needs a clear close above $2.28. This level has stopped any bullish attempts since November 17th.
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Stock flows indicate a strong accumulation
Flow data on the chain now supports the bullish case. The exchange’s net position – which shows whether there are coins entering or exiting exchanges – turned sharply negative on November 19. Negative (red) reading means that the coins have exited exchanges, indicating buying pressure.
On November 19, XRP flows were About -59.32 million tokens. By November 27, the number had reached -650.45 million. This means an increase of almost 1000% in eight days. When outflows grow so rapidly in a tight range, this often indicates that large buyers are piling up.
This explains why the lower limit at $2.14 was not broken even after a bearish EMA crossover.
Key levels will decide if XRP price finally takes off
The range remains narrow. The first and most important level is $2.28. It has been a strong resistance since November 17th. if XRP closed above This line with an increase in trading volume, the next major target becomes $2.55, which is above the upper trend line of the trough. A break above $2.55 will turn the broader structure bullish and may even confirm a trend reversal.
If the XRP price fails and breaks below $2.14, the next support is near $2.02. Losing this level delays any breakout. However, this would require an increase in selling pressure and would mean that an OBV breakout has failed to gain momentum.
Currently, the parameter is in an upward trend. The buying pressure increased by almost 1000%. The volume is starting to rise. The price continues to defend the support. If XRP gains just an additional 2% and surpasses $2.28, it can finally break a ceiling that has lasted more than ten days and start a new phase to the upside.
