In the past few months, the leading altcoin XRP – hated by some, loved by others – has taken a blistering tumble down into lows not seen in years. This is not unlike another leading altcoin, Ethereum’s recent capitulation, and like Ethereum it looks like enough strength has finally come in. We propose the possibility of a reversal off the lows soon.

We start with perhaps the most compelling XRP chart, the XRP/BTC weekly which has closed a session last night. XRP here is massively oversold on the RSI, but has also been putting in a series of bull divergences on price lows.

Bull crosses on MACD and histogramXRP chart by TradingView

The MACD is just as compelling if not more, with a MACD bullish crossover for the first time in a year, as well as the first positive histogram close since January 2019. We must always keep in mind that, on such a huge timeframe as the weekly, it’s very hard to “move the needle” and, thus, chart milestones like these carry much more weight than on smaller timeframes.

Going just a bit closer, to the 3-day chart, we that XRP/BTC has been unable to close above the 9 exponential moving average (EMA) for some time. The repeatedly and un-ignorable series of bull divergences on the RSI gives us a strong expectation, however, that the next period could see this close above the 9.

Watch the histogramXRP chart by TradingView

Here, the histogram stands ready to put in a higher high as well. If the next bar were to close higher in two and half days, we could expect XRP to begin rolling up for a reversal.

Finally, to check the USD pairing, we look at XRP’s 3-day chart. And again, we see many of the same, quite bullish signs. Again, the 9 EMA has consistently rejected price, but now looks to be taken with just a bit of a push.

Hard to imagine not reversingXRP chart by TradingView

We have bullish divergence on the RSI, but perhaps more importantly, we have a bullish cross on the MACD and a cross over to the positive side on the histogram – although on these chart these are not locked in with a candle close.

As with other major altcoins like Ethereum (ETH), XRP has been beaten down and falling for quite a long time. Now, with bottom after bottom taken out, the piles of positive signs are building up for a reversal. And with Bitcoin stuck in a consolidation pattern, and its market dominance falling, conditions don’t get much better for an altcoin rally.

The views and opinions expressed here do not reflect those of and do not constitute financial advice. Always do your own research.

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