XRP is once again at a pivotal moment, with technical indicators suggesting a possible rebound after recent weakness.
Crypto analyst Ali highlighted that the TD Sequential indicator has flashed a buy signal for XRP on the 4-hour chart, hinting at a potential bounce from oversold conditions.
This signal comes after a string of red candles that pushed the price toward $2.95 before finding some stability.
At the same time, on-chain data from Glassnode points to $2.80 as a crucial support level. According to the cost-basis distribution heatmap, a large cluster of XRP supply was accumulated around this zone, making it a key level for traders to watch.
If this area holds, it could serve as the foundation for a recovery rally.
On the daily chart, XRP is trading just above $3.00 with relative strength index (RSI) levels hovering near 52, signaling neutral momentum after last week’s correction. The RSI suggests neither overbought nor oversold conditions, leaving room for either direction depending on broader market sentiment.
The past few weeks have seen XRP oscillating between $2.80 and $3.50, with bulls struggling to maintain momentum after hitting local highs in early September. A decisive move above $3.20 could re-ignite bullish momentum, while a breakdown below $2.80 would raise the risk of deeper losses.
For now, traders remain focused on whether the buy signal translates into a meaningful bounce or if XRP retests its key support once more.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-analyst-highlights-the-most-crucial-level-to-watch/