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Technical signals continue to draw attention to $XRP, with analysts pointing to a shift in momentum after months of uneven price action.
CryptoQuant-verified analyst CW has identified the appearance of bullish candles on $XRP’s weekly chart, suggesting that the market could be entering a new phase dominated by green candles.
Notably, $XRP has been in a bear market for the last nine months, during which its price has dipped by over 60% from $3.66.
Key Points
- CryptoQuant analyst CW spots bullish weekly Heikin Ashi candles on $XRP, signaling momentum shift after bear market.
- Heikin Ashi shows green weekly candles as $XRP gains 10%, hitting a four-week high of $1.50.
- CW calls current $XRP setup a “starting line”, hinting trend continuation if history repeats and macro eases.
- Bitcoin hits $78K as $XRP leads the majors, with analysts eyeing a $5 target.
Heikin Ashi Signals Turning Point
According to CW, the emergence of green candles on the Heikin Ashi chart is a key development. This charting method, used to filter out market noise, is widely followed for spotting trend reversals more clearly than standard candlesticks.
The latest formation shows a transition from red to green candles on the 1-week timeframe. Notably, this green candle emerges as $XRP posts a 10% gain over the past week. The coin is trading at $1.50, its highest price in four weeks.
This ongoing price rebound has helped improve $XRP’s weekly and monthly structure, turning it positive.
“Starting Line” for a New Move
Meanwhile, CW described the current setup as a “starting line,” suggesting the asset may be just beginning its upward move rather than nearing its end.
The chart highlights two key zones where $XRP previously reacted to the trendline before rallying. The latest touchpoint mirrors the earlier moment, adding weight to the idea that history could repeat itself.
If this pattern holds, $XRP’s price could be positioning for a sustained move higher as overall market conditions improve, supported by easing tensions in the Middle East, which previously dampened investor sentiment.
Market Context
Notably, Bitcoin’s price hit $78,000 today for the first time since February. Other crypto assets like Ethereum, BNB, and Solana are posting impressive price action today. However, $XRP is currently leading among majors with over 10% weekly gains at press time.
$XRP Price Targets to Watch
With improving market conditions, some analysts are calling for a run to a new all-time high. As The Crypto Basic reported earlier today, one analyst projects a possible move toward $5 if momentum builds, citing repeating fractal patterns seen in previous $XRP cycles.
Meanwhile, a more aggressive price outlook has emerged from trader CryptoCupra, who argues the setup could lead to a breakout similar to 2017. In particular, he calls for an $XRP price as high as $32 within 90 days.
However, the prediction is highly debated, with critics noting that similar “2017 fractal” calls have repeatedly failed to materialize.
At current prices, a move to $32 would require over 2,000% upside and a market cap exceeding $1.9 trillion, making it a highly ambitious scenario.