While the price of XRP has been weighed down by broader market sentiment, the asset’s technical indicators suggest it might be gearing up for a rally, with the $2.5 resistance level in sight.
To this end, XRP may be entering a bullish reversal after a prolonged correction, as the TD Sequential indicator has flashed a buy signal on the daily chart, with confirmation possibly imminent, according to insights shared by Ali Martinez in an X post on November 8.
Notably, the TD Sequential indicator counts a series of price candles to identify when an asset is overextended or ready for a reversal. A completed nine-count in a downtrend often signals fading selling pressure and the potential for a rebound.
XRP key price levels to watch
According to the analysis, XRP appears to have established a temporary floor around the $2.20 to $2.25 range, where recent candles show signs of stabilization following a sharp decline from the $2.55–$2.60 zone earlier in November.
Now, the emergence of the TD Sequential “2” candle suggests early confirmation of bullish momentum, with traders now watching for a decisive move above $2.35 to validate the setup.
If buying pressure builds, XRP could retest resistance around $2.50, a former support level before the recent pullback. A breakout above it would reinforce the bullish outlook and signal a potential short-term recovery.
Conversely, failure to confirm the signal could push the asset back toward support at $2.10–$2.00, where buyers are likely to step in.
The technical outlook comes as the asset has suffered from significant whale selling, which has derailed its momentum toward $2.5.
However, XRP remains backed by strong fundamentals. For instance, Ripple has raised $500 million in a new funding round led by Fortress Investment Group, Citadel Securities, Pantera Capital, and Galaxy Digital, valuing the company at $40 billion.
Following the news, XRP briefly surged 5.7% before paring gains amid broader market weakness.
On the other hand, Ripple President Monica Long said the funding highlights the firm’s sustained growth and focus on expanding blockchain-based financial infrastructure. She ruled out any near-term IPO plans, citing strong liquidity and continued private ownership.
XRP price analysis
As of press time, XRP was trading at $2.28, having dropped about 1.7% in the past 24 hours, while on the weekly chart, the asset is down over 10%.
Currently, XRP remains below both the 50-day SMA ($2.64) and 200-day SMA ($2.65), confirming short-term bearish pressure despite the longer-term uptrend remaining technically intact. The narrow $0.01 gap between the two SMAs signals weakening momentum and raises the risk of an impending death cross if selling persists.
Meanwhile, the 14-day RSI at 42.26 (neutral) shows neither overbought nor oversold conditions, indicating balanced momentum but leaning slightly downward, with no strong reversal signal yet.
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