Technical analyst Omkar Godbole highlights a bullish pattern emerging in XRP, comparable to Bitcoin’s price action before its surge from $70,000 to $100,000 late last year.
XRP, the cryptocurrency used by Ripple for cross-border payments, is showing resilience despite bearish signals from the moving average convergence divergence (MACD) histogram.
The MACD, a trend-following indicator, tracks momentum shifts with the histogram crossing zero to signal trend changes. Typically, a move below zero indicates downward momentum. In early March, XRP’s weekly MACD dropped below zero, suggesting a downtrend. However, prices have largely oscillated between $2 and $2.60 without a sustained decline.
This divergence between XRP’s price stability and bearish MACD readings indicates underlying strength, with buyers absorbing selling pressure. Additionally, the 50-, 100-, and 200-week simple moving averages are all trending upward, reinforcing the potential for a bullish breakout.
This pattern closely resembles Bitcoin’s 2023 summer behavior, when its weekly MACD remained negative but prices stayed range-bound near $60,000. After this divergence was noted by CoinDesk in September, BTC rallied sharply to over $100,000 by November.
Investors are now watching whether XRP will follow a similar trajectory in the coming months.