XRP, Supertrend Turns Bullish... 'Massive Explosion' if $1.55 is Broken

▲ XRP/AI-generated image

XRP is signaling a strong buy for the first time in three months on the daily chart, foreshadowing a massive rally. However, whether it breaks the $1.55 resistance level is expected to be a key turning point that will determine its future direction.

According to a NewsBTC report on April 19 (local time), crypto analyst Ali Martinez analyzed that XRP's Supertrend indicator turned bullish for the first time since January 17. Supertrend is a technical indicator that helps identify market trend direction and potential entry and exit points. This signal, appearing after months of selling pressure, is considered an important indication of the full return of XRP's trend.

XRP has been on a downtrend since recording a short-term high of $2.42 in early January. The price even dropped to $1.10 and has recently been consolidating between $1.30 and $1.55, accumulating strength. However, the Supertrend indicator turning bullish suggests that the prolonged selling pressure has finally ended. Martinez emphasized that for this trend reversal to lead to a substantial rally, the $1.55 resistance level must be broken.

The $1.55 area has acted as a strong resistance level in recent weeks, suppressing price increases. Martinez defined this point as a true test to confirm XRP's bullish intent. If this price level is decisively surpassed, a strong relief rally is likely to follow. In this scenario, XRP could potentially reach the $1.90 mark, recording an additional profit of approximately 32% from its current price. The Supertrend indicator is expected to serve as a solid lower support level during this process.

Market volatility due to geopolitical risks remains a variable. With the Strait of Hormuz closing again due to conflict between the U.S. and Iran, the global virtual asset market is under overall pressure. As of April 20, XRP is trading around $1.43, down 2.43% from the previous day. Trading volume has also decreased by over 40%, staying at approximately $2.69 billion. Rising energy prices and uncertainty in the Middle East are major factors dampening investor sentiment.

Investors are focusing on the technical confirmation process through a break above $1.55. Even amidst macroeconomic instability, the bullish signal from XRP's chart is interpreted as a hopeful indicator in a bearish market. If a strong upward breakout occurs as the indicator predicts, there is a high probability that the leadership of the altcoin market will return to XRP. The market's direction is expected to become clear within the next few days, depending on real-time supply and demand changes and whether key resistance levels are broken.

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