After Weathering a Dip to $1.90, XRP Shows Resilience

In the volatile realm of cryptocurrency, where fortunes can shift in the blink of an eye, Ripple's XRP finds itself at a pivotal juncture.

In the volatile realm of cryptocurrency, where fortunes can shift in the blink of an eye, Ripple’s XRP finds itself at a pivotal juncture. After weathering a recent dip to $1.90, the token has shown resilience, now holding steady around $2.30.

But this stability masks a brewing storm of bullish sentiment, fueled by astute analysts who believe XRP has touched its bottom and is poised for a monumental rally. With historical patterns, technical indicators, and market psychology converging, the question on everyone’s mind is: can XRP defy the odds and embark on a trajectory that could potentially propel it to $30?

This article delves into the intricate web of analyses, predictions, and market dynamics that are shaping XRP’s narrative, exploring the catalysts that could ignite its resurgence and the challenges that lie ahead.

The $1.90 Threshold: A Line in the Sand

The recent dip to $1.90 on March 11 marked a critical moment for XRP. For many investors, this level represented a line in the sand, a potential tipping point that could either signal a continuation of the downtrend or a reversal towards bullish territory.

Crypto analyst Steph’s bold assertion that “XRP bottom is in” hinges on this very threshold. As highlighted in a recent analysis, Steph, a recognized figure in the XRP community, maintains that the token’s ability to recover from this low and maintain its position above the $2 support zone is a testament to its underlying strength.

The significance of the $1.90 level extends beyond mere price action. It represents a psychological barrier, a point of maximum fear and uncertainty that often precedes significant market reversals.

RSI Breakout: A Historical Precedent

Steph’s analysis draws heavily on the Relative Strength Index (RSI), a momentum indicator that measures the speed and change of price movements. As the analyst observed, XRP’s RSI had been trapped in a downtrend for two months, forming a falling wedge pattern.

Historically, breakouts from such patterns have been associated with strong price reversals. In previous instances, XRP has witnessed substantial rallies following RSI breakouts, with one notable example being a nearly 6X surge in November 2024.

The RSI’s ability to provide insights into market momentum makes it a valuable tool for analysts. By identifying patterns and divergences, analysts can gain a deeper understanding of market sentiment and anticipate potential price movements.

Wyckoff Re-accumulation: A Consolidation Phase

Adding to the bullish sentiment, Steph also points to the Wyckoff Re-accumulation schematic, a classic consolidation phase in uptrending markets. This pattern suggests that strong hands are accumulating supply before another leg higher.

XRP has been trading within this pattern since late 2024, particularly after the massive rally sparked by Donald Trump’s re-election. After hitting a peak of $3.4 in January, the token entered a prolonged consolidation phase, ranging between $2 and $3.3.

The Wyckoff method is a time-tested approach to market analysis that emphasizes the importance of understanding market cycles and identifying accumulation and distribution phases. By recognizing these patterns, traders can gain a competitive edge and make informed investment decisions.

The $2.90 Breakout: A Confirmation Signal

According to Steph, the confirmation of a breakout would come when XRP closes a daily candle above $2.90. This level represents a critical resistance zone that, once breached, could trigger a surge in buying pressure.

The altcoin attempted this move on March 2, reaching $2.9 after Trump’s reserve announcement, but the broader market downturn led to an 18.83% drop the following day, halting momentum.

Despite this setback, Steph remains optimistic, believing that the $2.90 breakout is imminent. He points to the weekly Stochastic RSI, a momentum indicator that measures the speed and change of price movements, which is on the verge of a bullish crossover.

Stochastic RSI Crossover: A Potential Catalyst

The weekly Stochastic RSI crossover is a significant technical indicator that could trigger a substantial rally. This crossover occurs when the %K line crosses above the %D line, signaling a shift in momentum from bearish to bullish.

Historically, such crossovers have been associated with significant price surges. Steph speculates that XRP could surge by 500%, potentially reaching $13-$14. In an even more bullish scenario, he sees XRP hitting $30.

The Stochastic RSI’s ability to identify overbought and oversold conditions makes it a valuable टूल traders. By identifying potential crossovers, traders can anticipate potential trend reversals and capitalize on emerging opportunities.

EGRAG Crypto’s Bullish Stance: Rock-Solid Support

Adding to the chorus of bullish voices, EGRAG Crypto is doubling down on his optimistic outlook, highlighting $2.22 as rock-solid support for XRP. As mentioned in a recent post, EGRAG Crypto