XRP’s price has risen above $1.40, suggesting that the cryptocurrency might be stabilizing after a recent period of declining performance. This gives buyers hope for a potential recovery.
Crypto analyst ChartNerd is advising caution despite some positive signs for XRP. In a recent post on X, they noted that while XRP’s weekly chart is starting to look promising, it’s still too early to say for sure if the recent price drop is truly over. The broader, long-term trend hasn’t confirmed a recovery yet.
XRP Weekly Chart Shows Signs Of Recovery
ChartNerd believes XRP is poised for a potential price increase, based on several indicators from its weekly chart. He highlights that the weekly Relative Strength Index (RSI) has reached a historically low point, suggesting it may be undervalued. Additionally, a bullish ‘golden cross’ has formed on the weekly Moving Average Convergence Divergence (MACD), and the price remains above the 200-week Exponential Moving Average (EMA). The monthly 50 EMA is also continuing to act as a support level.
The market is showing promising signs on the weekly chart. For example, when the MACD displays a ‘golden cross,’ it often indicates that selling pressure is decreasing and buyers are starting to take over.
These signals are noteworthy because the token has been steadily recovering over the last few months after a significant price drop. It appears to be establishing a stable level around $1.40, which is encouraging for those who believe the price will rise.
The Larger Timeframe Is Still Not Fully Bullish
Looking at XRP over a three-month period gives a clearer, more realistic view by smoothing out daily fluctuations and highlighting the overall pattern.
Looking at its 3-month Relative Strength Index (RSI), currently around 54, suggests the recent downturn might not be over. This level is still higher than the lowest point – around 47 – seen during similar declines in the past before prices rebounded. Historically, this indicates the overall market correction may still have further to go.
The analyst noted that while the 3-month MACD is still high, it’s starting to lose momentum, potentially signaling a future ‘death cross’ on a longer-term chart. Interestingly, the 3-month MACD is now acting as a ceiling for price movement, whereas the weekly MACD has already formed a positive ‘golden cross,’ suggesting an upward trend.
This is where a cautious perspective is important. ChartNerd clarified that he’s not predicting XRP won’t increase in value during May or June. He actually believes a price increase is possible in the short term.
The biggest worry right now is that this price increase might only be temporary, leading to another drop in XRP’s value later this year. For the optimistic outlook to hold true, XRP needs to do more than just bounce back – it has to break through key resistance levels and show a solid, lasting upward trend on longer-term charts.
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2026-05-05 02:27