XRP Faces Key Test as Historical Pattern Points to Possible Pullback

XRP's weekly Super Trend turned bullish in August, but the same signal preceded sharp corrections in three earlier cycles. XRP’s weekly Super Trend indicator flipped bullish on August 17, after the token rallied about 70% from $0.98 to $1.70. The catch, according to analyst ChartNerd, is that this exact signal has marked local tops before deep pullbacks in every previous cycle going back to 2019, and XRP is already stalling at the resistance level that decided those earlier setups. XRP’s Bullish Signal Meets Resistance ChartNerd’s analysis centers on what happened after XRP hit roughly $0.98 and then recovered. The token moved about 70% toward $1.70, where it ran into the 50-week EMA, currently around $1.52. At the same time, the token has been trading between that resistance and the 20-week EMA near $1.29 to $1.30. “Whilst beneath the 50 and above the 20, we’re simply compressing,” ChartNerd said, describing the recent price action as a period of chop while traders wait for a clearer direction. That caution comes from XRP’s earlier cycle history. In 2022, it rallied about 90% from its cycle low before a bullish Super Trend flip appeared around the 50-week EMA. The move was followe...