Crypto analyst Mattsby has highlighted the best chart for market participants looking for the clearest macro photo for XRP. He also gave a bullish outlook for the altcoin, noting that a key resistance is now turning into support.
This chart paints the best macro picture for XRP
In one X messageMattsby 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 when it crosses above the 20SMA. On the other hand, the altcoin could be setting itself up 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 what was once resistance is now turning into solid support. He explained that this is why he remains optimistic about the altcoin despite the current price action. Mattsby added that the support is holding up and that the macro trend is intact.
Crypto analyst Chart Nerd also gave a bullish outlook for XRP. In one X messagehe stated that after months of sustained pressure, multiple time frames suggest bullish relief is on the table for XRP. He highlighted $1.54 and $1.87 as levels the altcoin could regain during this relief rally. He also noted that $1,560 is the immediate resistance that XRP could face during this upward rally. It’s worth noting that XRP is already seeing a relief rally, alongside Bitcoin and the broader crypto market.
XRP is still stuck below a key resistance
In one X messageCrypto analyst CasiTrades warned that XRP remains stuck below resistance, noting that the altcoin has been hovering below $1.6 for more than 68 days. In line with this, she stated that nothing has changed in the macro plan for XRP. It is worth noting that the analyst is currently bearish and predicts further crashes for the altcoin.
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CasiTrades stated that it is currently waiting for XRP to do one of two things. The first could be a decline towards the macro support levels of $1.09 and $0.87. Meanwhile, the second one could be a breakout and hold above $1.65, which will make the market bullish. Until then she noted that the current price action is simply a continued improvement, with XRP stuck in a tight range between $1.28 and $1.39. The analyst added that she expects a continuation towards the lower supports once XRP falls below $1.28.
At the time of writing, the XRP price is trading around $1.43, up over 2% in the past 24 hours. facts from CoinMarketCap.
Featured image from Sketchfab, chart from Tradingview.com