- XRP moved above $1.14 and $1.18 as volume hit its strongest level since the June washout.
- BATMAN said XRP’s MACD bullish crossover supports a possible short-term momentum shift.
- JD said a confirmed XRP/BTC RSI-MA cross could support a possible 5x-8x price move ahead.
XRP reclaimed the $1.28 level after spending nearly two weeks trying to stop its decline. The token moved above $1.14 and $1.18 before extending higher on its strongest volume since the early-June washout.
In an X post, analyst BATMAN said the accumulation and manipulation phases appear complete. However, according to analysts, a bullish MACD crossover points to a possible momentum shift.
XRP Rebound Builds After Manipulation Phase
The XRP chart shared by the analyst shows three marked phases, including accumulation, manipulation, and a projected distribution area. The accumulation phase appeared between late February and late May.
During that period, XRP mostly traded between the $1.30 and $1.50 area after a sharp decline earlier in the year. The price stayed inside that range for several weeks. That movement showed limited direction before the early-June breakdown pulled XRP below the accumulation zone.
Source: X
According to BATMAN’s, XRP entered a manipulation phase in early June after falling below the earlier accumulation range. The token dropped toward the $1.10 area before rebounding as buyers returned.
However, the price remains near the former accumulation base around $1.30, which now acts as the first major resistance level. A daily close above $1.30 would place XRP back inside its previous trading range. It would also support a stronger recovery from the early-June breakdown.
XRP MACD Crossover Signals Weaker Bearish Momentum
However, the MACD also supports the short-term recovery attempt. The histogram moved into positive territory near 0.0101, while the MACD line stood around -0.0478.
The signal line was near -0.0579. That means the MACD line crossed above the signal line, showing that bearish momentum has weakened.
On the downside, XRP needs to hold the $1.15 to $1.20 recovery zone. A drop below that area could weaken the rebound and bring the June low near $1.10 back into focus.
In an X post, analyst JD pointed to a potential bullish RSI and moving average cross on the XRP/BTC pair. He said the setup reminded him of the 2017 bullish cross that preceded a major XRP rally.
Source: X
JD said XRP’s larger market cap makes a repeat of the earlier 500x move unlikely. However, he said a confirmed cross could support a possible 5x to 8x move.
However, XRP’s recovery still depends on a daily close above $1.30. The improvement came as broader sentiment strengthened after the U.S. and Iran reached a preliminary peace agreement expected to be signed on Friday.
Related: XRP Outlook: Can the Token Withstand a BOJ Rate Hike?
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