After recovering from last week’s lows, XRP has been moving sideways, hovering between $1.40 and $1.45 during the past four days. As the price attempts to hold its local range lows, a market observer has affirmed that the cryptocurrency could be preparing for a potential recovery if its critical level holds.
XRP At Critical Inflection Point
On Tuesday, crypto analyst ChartNerd highlighted XRP’s performance over the past six months, suggesting that the altcoin could be ‘Positioned for a Major Bullish Structure Shift.”
He explained that the cryptocurrency has seen “6 months of downside with virtually no relief,” while showing key signals, such as the MACD and RSI reaching historical oversold levels.
Moreover, the analyst highlighted the simultaneous retests of the 50-Month Exponential Moving Average (EMA), a prior eight-year resistance line, and the Fibonacci demand zone. “This marks the first 50EMA backtest since November 2024, and doing so, we have a wick m
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