XRP, $1.30 the last bastion?...Signal of stabilization beginning after bearish trend ends

▲ XRP/ChatGPT generated image

XRP is once again raising expectations for a rebound, showing signs of slowing selling pressure and potential accumulation around the $1.30 support level after several months of a gradual downtrend.

According to U.Today on May 27 (local time), XRP's overall structure has not yet fully turned bullish, but recent price movements indicate that sellers are losing their dominance near the key support zone of $1.30. XRP has tested the $1.30 to $1.32 range multiple times over the past few months but has not led to a clear breakdown.

Each time bearish forces tried to push the price lower, buying pressure quickly flowed in, preventing a sell-off. The recent rebound from the support line increases the possibility that XRP is entering a broader recovery phase rather than preparing for another sharp decline. In the current market structure, the $1.30 support level has emerged not just as a price point but as a central axis dividing the entire XRP trend.

The technical configuration is also gradually improving. XRP remains below the 50-day and 100-day moving averages, which act as upper resistance in the $1.39 to $1.47 range. However, the downward momentum during the recent pullback has significantly weakened compared to previous selling phases. The Relative Strength Index (RSI) has also stabilized near the neutral zone without plummeting into oversold territory. U.Today pointed out that this trend is often a sign of momentum exhaustion observed before a full reversal occurs.

The descending resistance structure that has been pressing XRP in April and May is also showing signs of weakening. The price is consolidating under a narrowing structure, maintaining higher lows near the support level. Markets often show strong directional movement when such a converging structure resolves. However, the rebound scenario is entirely dependent on the defense of the $1.30 support level. If XRP clearly breaks below $1.30, the stabilization outlook will significantly weaken, and the possibility of another aggressive selling phase will increase.

Currently, XRP is not seen as an asset in freefall. Compared to previous months, bearish momentum has distinctly slowed, trading volume has stabilized, and volatility has decreased. While a breakout has not yet occurred, the XRP chart shows a trend closer to accumulation than continuous distribution for the first time in weeks.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*