"Selling Pressure Fails"...XRP Could Surge if it Holds $1.38

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An analysis suggests that XRP has held above the $1.38 support line despite recent corrective trends, leaving open the possibility of further upside. Although short-term momentum is not strong, the current decline is evaluated as a correction within a larger bullish structure rather than a trend reversal.

NewsBTC reported on May 13 (local time), citing an analysis by More Crypto Online, that XRP remains within a broad range-bound structure. According to the analysis, the decline observed after the May 10 peak is interpreted as a corrective three-wave decline, not a clear trend reversal.

The key is whether the $1.38 support line is defended. More Crypto Online explained that as long as this low is maintained, XRP's technical structure allows for further upside. However, it also pointed out that the current upward momentum is relatively weak. The recent price rebound is evaluated as similar to the corrective three-wave movement observed after the April 5 low.

The market is also paying attention to the $1.40-$1.42 range. This range was presented as an internal B-wave support area, and More Crypto Online explained that B-waves often do not precisely follow Fibonacci levels, making it a tricky trading area. However, it analyzed that the internal 100% extension target near $1.41 has already been reached, which could be an ideal completion point for the corrective three-wave decline.

The flow of Binance Spot Cumulative Volume Delta (CVD) also suggested that buying pressure for XRP has not completely broken. Cryptocurrency analyst Xaif Crypto stated that Binance Spot CVD shows a stable trend despite XRP's price hovering near local lows. The fact that Spot CVD does not plunge during a long-term downtrend is interpreted to mean that underlying demand is absorbing selling pressure.

Xaif Crypto explained that such discrepancies have historically acted as leading indicators of sharp market reversals. He viewed the stability of spot volume indicators as showing that XRP's sideways consolidation phase is nearing completion and that it may be preparing for a trend reversal. According to the report, XRP traded at $1.45 on the daily chart.

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