Recent days have seen both technical indicators and on chain data suggest that XRP could be poised for a recovery. As the price hovers near the critical 1.10 dollar resistance, the possibility of a rally stretching toward 1.30 dollars is back in the spotlight among investors.
Buy signals emerge on the daily chart
Market analyst Ali Martinez reports that two distinct bullish signals have appeared on XRP’s daily chart. According to Martinez, this development reflects a potential shift in momentum following a period of waning selling pressure, suggesting a possible turn to the upside.
Ali Martinez highlights that two strong buy signals have formed on XRP’s daily chart and notes that if the current momentum is maintained, the price could see room to move toward the 1.30 dollar level.
The first signal comes from the TD Sequential indicator, designed by Tom DeMark. The emergence of a “9” buy setup within this indicator is considered notable by investors who closely follow such formations to gauge when bearish trends may be losing strength.
Mini glossary: The TD Sequential is a technical indicator used to detect exhaustion points and potential reversals in price movements. The “9” setup is especially watched after extended declines to spot short term recovery opportunities.
In addition, the past three days’ candlestick structure has formed a Morning Star Doji pattern. Regarded as one of the reliable reversal formations in technical analysis, this pattern suggests that selling pressure is waning as buyers begin regaining balance. If trading volumes see a pronounced increase, the reversal signal could be confirmed even more strongly.
Resistance at 1.10 dollars and the 1.30 dollar target
Following its recent correction, XRP has also shaped a double bottom formation. This suggests that buyers have defended the same support region twice, making a bullish breakout a more probable scenario in the short run.
The nearest resistance lies at 1.10 dollars. Should XRP’s price establish itself above this level with conviction, the technical outlook for a reversal would become clearer and pave the way for a move toward 1.30 dollars.
Network data points to increased activity
On the on chain side, notable growth has also been recorded. The number of daily active addresses on XRP Ledger stood at about 23,000 on June 14, but this figure has since climbed toward 39,500 over the past two weeks. The XRP Ledger serves as the distributed infrastructure for all XRP transactions.
The rise in daily active addresses signals increased network participation and trading activity. Market participants closely monitor such data as it often points to strengthening demand and heightened investor interest.
According to CoinCodex data, XRP was trading at around 1.05 dollars at the time of reporting. Although this leaves the price just below the key resistance zone, the mix of positive technical signals and increased network activity suggests that bearish pressure may be subsiding for now.
