SuperTrend Reversal…Possibility of XRP Rally to $1.90

▲ Bitcoin (BTC), XRP (XRP)/ChatGPT generated image ©

XRP's key trend indicator has reversed for the first time in four months, bringing the possibility of breaking through $1.90 back into focus in the market.

According to cryptocurrency media outlet Bitcoinist on April 20 (local time), XRP (XRP, Ripple) had been on a downtrend for approximately three months after its January high of $2.40, but recently, the SuperTrend indicator has switched to a buy signal, showing signs of a trend change. This is the first time the indicator has turned bullish since January 17.

Analyst Ali Martinez noted that the SuperTrend moved below the price on the daily chart. This signifies that the previous selling dominance has weakened, and buying pressure has regained some control. In fact, XRP touched $1.50 intraday on April 17 and closed above $1.40, triggering this signal.

However, it is also emphasized that the trend reversal is not yet confirmed. Martinez presented $1.55 as a short-term key turning point. He analyzed that an upward trend can only continue if this level is clearly broken on a daily closing basis; otherwise, it could revert to a correction phase.

The supply and demand structure is also a variable. Approximately 60% of XRP's circulating supply is concentrated around an average purchase price of $1.44, creating strong selling pressure at every $1.40-$1.45 interval. This so-called 'escape selling' acts as overhead resistance. A sustained rally is only possible after this volume is absorbed.

If $1.55 is strongly broken, the upward momentum could accelerate rapidly. In this scenario, Martinez suggested the $1.90 level as the primary target. Currently, XRP is trading around $1.42, and the SuperTrend is expected to act as a trailing support line for the time being.

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