#Crypto Market Rebound   Why Are Analysts Claiming That the XRP Price Pattern Is Not a Bear Market?

The XRP price is down about 10% this week. It briefly fell to $1.90 due to geopolitical tensions. It then rose above $2.

Analysts say that as long as XRP holds key support around $1.75–$1.80, the pattern is not a bear market.

Accumulation and distribution indicators are showing a cautious recovery. Moderate buying and weak money flow are signs of price stagnation. Not a confirmed trend reversal.

Despite the recent volatility, leading analysts argue that XRP’s technical structure is not yet in a bearish trend. They highlight critical price levels for trend confirmation.

A technical review of XRP’s past 5-day chart provides context to these analyst views.

Analysts Are Cautiously Optimistic About XRP Price

XRP prices are down about 7% over the past week, a decline that was largely driven by rising geopolitical tensions, particularly due to the U.S. airstrikes on Iranian facilities. The altcoin fell from around $2.20 to around $1.90 before settling around $2.06.

Veteran trader Peter Brandt has noted a potential Head and Shoulders pattern on XRP’s chart. This is a bearish indicator that typically signals a reversal from bullish to bearish if key support levels are broken.

However, Brandt cautions against prematurely drawing bearish conclusions. He particularly points out the importance of XRP maintaining support above $1.80.

A definitive weekly close below this critical level would be necessary to confirm the bearish scenario.

Meanwhile, analyst EGRAG offered a detailed bullish perspective using multiple technical indicators.

The Gaussian Channel is a volatility indicator used to determine trend strength and potential reversals. A close at this channel boundary, currently around $1.75, could signal weakening momentum and possible downside pressure.

EGRAG emphasizes the importance of XRP staying above this boundary to maintain its bullish strength.

Furthermore, the 21-week EMA is a critical moving average that traders use to identify macro trends.

A close above the EMA level at $2.33 would indicate strong bullish momentum.

Furthermore, a breakout of the resistance at $2.65 would confirm a solid long-term uptrend.

EGRAG also uses Elliott Wave analysis, a technical approach that identifies recurring patterns (waves) in market prices and predicts potential targets.

Using Elliott Wave ratios, the analyst predicts that XRP could reach between $9 and $10 if the current support levels hold, successfully completing its expected fifth wave.

Short-Term Technical Analysis Requires Attention.

XRP faced significant selling pressure as prices fell sharply towards $1.90, which was confirmed by a significant drop in the Accumulation/Distribution (A/D) line.

The A/D line measures cumulative buying and selling pressure, and its drop indicates higher trading volume during price declines, reflecting strong seller activity.

Once the XRP price reached the support around $1.90, the A/D line stabilized and showed a slight rise during the recovery, indicating renewed buyer activity.

However, the accumulation during this recovery has not yet completely neutralized the previous distribution, suggesting caution.

Meanwhile, Chaikin Money Flow (CMF), an indicator that shows the strength of money flowing into or out of an asset, turned negative during the sell-off, confirming strong outflows.

While CMF has recovered somewhat during XRP’s recovery, it has remained weak and has failed to enter positive territory, suggesting that buyers are still cautious.

Price Stagnation for XRP and Critical Levels to Watch.

These technical indicators suggest that XRP is currently in a cautious price stagnation. While support around $1.90 is strong, the limited recovery in CMF suggests that market uncertainty remains.

Overall, this analysis is in line with analyst views that key support around $1.75-$1.80 remains intact. A decisive weekly close below these supports would confirm a bearish reversal.

Traders should closely monitor XRP’s interaction with critical support and resistance levels.

In particular, a confirmed break above $2.33 and then $2.65 would signal a continuation of the rally, while a decisive break of the $1.75-$1.80 support level would indicate an increased risk of further declines.