- XRP was showing a somewhat sustained yet tentative bullish trend.
- Despite attempts by the bears to reverse gains, XRP has been making higher lows at every bull flag.
In recent weeks, Ripple [XRP] It has been riding an unexpectedly bullish wave, catching the attention of investors and analysts. But the pressing question remains: how long can XRP sustain this bullish trend?
The opening and closing prices of XRP over the past few days have shown an overall downward trend with some recovery. As can be seen in the chart below, XRP’s MACD line is fluctuating around the zero line, indicating a balanced market between bulls and bears.
Source: TradingView
The presence of a blue peak above the signal line briefly suggests bullish momentum, but it is quickly neutralized by a red valley below the signal line.
Will the bullish momentum stop, or…?
Occasional spikes in the RSI indicate brief periods of increased buying pressure, but they are not sustained, indicating that the bullish trend is tentative and not strongly supported by sustained buying pressure.
Source: TradingView
In the chart above, we can see multiple bull flags especially following the uptrend, indicating continued bullish momentum.
However, these poles are followed by horizontal or minor retracement moves, forming “flags” as shown in the chart above. This pattern usually indicates a consolidation phase.
Prices have shown resilience by holding levels above previous resistance-turned-support zones.
Each bull flag forms at a higher level than the previous one, suggesting small but consistent bullish sentiment.
Source: TradingView
Over the past five days, XRP has seen instances of a possible inverse head and shoulders pattern forming, however, these instances appear messy and overlapping with frequent markings, indicating that bears are consistently attempting to reverse the bullish trend.
Current chart activity near the marked area suggests that resistance levels are being tested frequently. XRP social volume has declined since the start of the year but is currently performing better than it was a month ago.
Source: Santiment
Whether this is realistic or not, the market capitalization of XRP in BTC equivalent is as follows:
Social dominance also appears to be trending upward, although it has not yet reached the peak levels observed in December and January.
Overall, XRP bears are actively fighting the bulls and buying pressure needs to increase significantly to maintain momentum.
