XRP Bulls Gain Momentum as Sellers Struggle to Reversal

XRP has delivered one of its most obvious bullish reversal signals this year after surpassing the 200-day moving average and staying above it throughout a recent correction.

The asset initially surged from around $1.00 to a peak close to $1.70, but its current price is around $1.39.

Despite some pullback, sellers have been unable to push XRP below its long-term trend indicator, and the descending volume profile suggests that bears are struggling to create a foundation for a reversal downwards.

The 50-day and 100-day moving averages are around $1.14 and $1.21, respectively, while the 20-day EMA has risen to roughly $1.26.