XRP's Bullish Engulfing Pattern Points to Potential Reversal at $0.98

Crypto analyst EGRAG CRYPTO has identified a bullish engulfing pattern on XRP's 2-month chart, which could influence its trajectory over the coming months.

The formation appears in a price zone that historically marked significant turning points for the digital asset. This setup is similar to earlier instances where the bullish engulfing signal appeared near major cycle lows.

EGRAG CRYPTO notes that when XRP prints a bullish engulfing structure close to a major bottom, the previous cycle low often remains intact, though retests are still possible.

The $0.98 level remains a central focus within EGRAG CRYPTO's analysis, as it has repeatedly acted as a reference point when bullish engulfing patterns developed following prolonged declines.