Analyst Says XRP on the Point of Refusing to Go More Down

XRP has shown strength with its recent price trend, and an analyst believes this present price rebound feels different from past recoveries.

Specifically, Henry expatriated on the difference in the current XRP rebound in his recent X post, following the asset’s explosive move yesterday. XRP is up 9.55% over the past 24 hours and over 10% from Monday’s lows of $1.98.

XRP Refusing to Go Down

Henry emphasized XRP’s strength as it bounced from the trendline base support in his accompanying chart. He noted that this was especially important, as the cryptocurrency showed resilience where it mattered, particularly after days of negative price trends.

For context, XRP attempted to break above a key resistance neckline around $2.28 multiple times between November 25 and 29, but the zone proved too strong. A rejection from there saw the coin drop back to the base support at $1.98 on Monday, but it recovered almost immediately.

XRP Bounces from Support

Meanwhile, the analyst noted that its refusal to go down was XRP whispering loudly. The take suggests that the resilience indicates accumulating strength for a decisive price uptrend.

“Some things in the market don’t shout, they whisper,” he stated, insisting that XRP is doing just that at the moment.

Recent Bounce Feels Different

Furthermore, the market watcher claimed that the current XRP price rebound feels different. He noted this is so because everything looks “cleaner, calmer, and controlled.”

XRP has stabilized lately above the $2 psychological level despite market uncertainties, a development Henry believes is bullish. The analyst predicts this showing could help XRP finally break above the $2.28 resistance, retesting a much stronger supply zone at $2.33.

Notably, at the time of his analysis, XRP changed to $2.02, but the analyst predicted that XRP could surge to the first target at $2.2. With that target reached, he now expects XRP to rally to higher prices.

Meanwhile, he believes recent ecosystem developments signal bullish momentum for XRP, one of which is Vanguard’s crypto ETF adoption. The $11 trillion asset manager announced it would now allow its over 50 million clients access to XRP ETFs, among others, paving the way for a new influx of liquidity. This marked a major reversal from the firm’s earlier skeptical stance on cryptocurrencies, as demand pressure finally prompted a strategic shift.

Another factor that could drive XRP’s price rally is the performance of the US XRP spot ETFs. The XRP-focused investment vehicles have been on a scintillating run since their market debut, accruing $824 million in net cumulative inflow.

An interesting detail is that all four funds currently traded on traditional exchanges—Canary Capital, Bitwise, Grayscale, and the Franklin Templeton XRP ETF—have yet to have a whole week together. Again, there has been no net outflow on a single day since their launch despite market uncertainties, suggesting strong institutional demand.

Henry believes these developments would push the price of XRP to greater heights.