Pundit Says This Chart Paints The Clearest Macro Picture For XRP

[ad_1]

Crypto analyst Mattsby has highlighted the best chart for market participants seeking the clearest macro picture for XRP. He also provided a bullish outlook for the altcoin, noting that a key resistance is now flipping into support.

This Chart Paints The Best Macro Picture For XRP

In an X post, Mattsby urged market participants to zoom out to the 2-month chart and add the 20SMA if they want to see the clear, well-defined macro trend for XRP. He noted that history shows that XRP has bullish momentum and room to run higher whenever it is above the 20SMA. On the other hand, the altcoin could be preparing for a potentially long, painful consolidation before the next big leg, as long as it remains below this level.

The analyst noted that XRP has been trading this key moving average since November 2024 and that what was once resistance is now flipping into solid support. He explained that this is why he is staying bullish on the altcoin despite the current price action. Mattsby added that support is holding and that the macro trend is intact.

Crypto analyst Chart Nerd also provided a bullish outlook for XRP. In an X post, he stated that after months of sustained pressure, multiple timeframes suggest bullish relief is on the table for XRP. He highlighted $1.54 and $1.87 as levels the altcoin could reclaim during this relief rally. He also noted that $1.560 is the immediate resistance that XRP could face on this rally to the upside. It is worth noting that XRP is already seeing a relief rally, bouncing alongside Bitcoin and the broader crypto market.

XRP Still Trapped Below A Key Resistance

In an X post, crypto analyst CasiTrades warned that XRP remains trapped below resistance, noting the altcoin has been ranging below $1.6 for over 68 days. In line with this, she declared that nothing has changed on the macro plan for XRP. It is worth noting that the analyst is currently bearish, predicting further crashes for the altcoin.

Related Reading

CasiTrades stated that, at the moment, there is a wait for XRP to do one of two things. The first could be a move down to the macro support levels at $1.09 and $0.87. Meanwhile, the second could be a break and hold above $1.65, which will flip the market bullish. Until then, she noted that the current price action is just continued chop, with XRP stuck in a tight range between $1.28 and $1.39. The analyst added that she expects continuation toward the lower supports once XRP breaks below $1.28.

At the time of writing, the XRP price is trading at around $1.43, up over 2% in the last 24 hours, according to data from CoinMarketCap.