XRP is trading at a pivotal technical and sentiment crossroads, with analysts debating whether the current price action signals a bullish double bottom or a bearish double top formation. The token is currently priced at $1.92, holding above a crucial support zone between $1.82 and $1.87 after bouncing from a test near $1.8. This area has been defended multiple times, with a brief fakeout below support quickly reversed.
Technical indicators present a mixed picture. Analyst Niels highlighted a potential double bottom pattern forming around $1.8, with the RSI rebounding from oversold levels near 22 to around 45, suggesting waning selling pressure. The immediate resistance is seen near $1.95, with a break above potentially targeting $2.3 to $2.5. However, ChartNerd maintains a longer-term bullish outlook, noting XRP remains above its Monthly Supertrend indicator, implying the asset is still in a bull market.
Conversely, analyst Daniel Ramsey warns of a bearish double top formation, stating a close below $1.77 could break the recent structure and bring the next major support near $0.8 into focus. On-chain data from Ali Charts shows a decline in network activity, with active XRP addresses dropping from 46,000 to 38,500 over the past week.
Sentiment data from Santiment introduces a contrarian bullish signal. XRP has plunged into Santiment's "fear zone," where negative social media commentary far outweighs positive sentiment. Historically, such periods of extreme pessimism have aligned with local price bottoms and preceded strong rebound rallies, as seen in June, August, and October of this year.
This negative sentiment coincides with stabilizing price action at the $1.85 support and a shift in the Chaikin Money Flow (CMF) indicator back toward neutral-to-positive territory. This CMF flip suggests selling pressure is easing and early capital inflows are returning to the market. Despite short-term uncertainty, the launch of spot Ripple ETFs on November 13 has shown steady demand, with the funds continuing to post gains.
