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A new technical analysis reveals that the XRP pricehas just confirmed a bullish reversal set-up on the 1-hour chart, following a strong rebound from a critical demand zone. This development has raised expectations of a potential short-term rally, as a crypto analyst forecasts higher targets in the coming sessions. XRP Price Bullish Reversal In Sight
‘FrankFx14,’ a pseudonymous TradingView crypto analyst, has revealedthat the XRP price has found solid footing between the $2.31246 and $2.37028 support area. The analyst also identified this range as a historically significant demand zonewhere previous buying pressure has consistently reversed price declines. Related Reading XRP Price Explosion To $5.9: Current Consolidation Won’t Stop XRP From Growing 3 days ago
As XRP’s price dipped into this demand zone on May 17, bulls stepped in, defending the lower boundary and triggering a sharp rejection. According to the analyst, the confirmation came with a bullish engulfing candle — a widely recognized signal for a potential trend reversal.
Trading at approximately $2.378 at the time of the chart analysis, XRP is now holding the top of this key demand zone, indicating renewed buying interest. The TradingView analyst has suggested that as long as the price remains above $2.37028, XRP’s bullish outlookremains intact. Source: FrankFx14 on Tradingview
According to the TradingView expert, the presence of XRP’s bullish reversal setup is supported by the LuxAlgo Supplyand the Demand Visible Range indicator. With XRP’s price action breaking upward from its local bottom, the analyst points to $2.4939 as the next key level to watch. This price marks the mid-level of a previous supply zone and a likely resistance area.
The next bullish target for XRP is $2.6031. The analyst has described this point as a major supply zonewhere sellers previously gained control. These price zones are now considered primary targets for short-term traders positioning for potential upside.
FrankFx14 has urged traders to wait for further confirmation, highlighting that strong trading volumeand candle closes above the $2.375 level would be the key to validating XRP’s bullish continuation. Analyst Forecasts Mega Rally For The Altcoin
XRP has officially broken out of a long-term Falling Wedge pattern, sparking optimism, with analysts like Crypto Avi believingthat a mega rally could be on the horizon. According to his chart analysis, the token is now poised for a mid-term surge, targeting new all-time highsaround $4.90. Related Reading XRP Price Confirms Bullish Reversal Setup With This Demand Zone 7 hours ago
Presently trading at $2.29, a surge to this bullish target would represent a significant increase of 114% for the altcoin. The chart illustrates that the cryptocurrency has been trapped in a downward-sloping channel since late 2024, consolidating in a patternseemingly recognized as bullish.
XRP is currently testing the Falling Wedge’s breakout level, which may now act as support. A sustained move above this level could confirm the analyst’s bullish thesis, paving the way for a potential climb toward $4.90. XRP trading at $2.3 on the 1D chart | Source: XRPUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com