Crypto analyst CrediBULL has identified signs of a local bottom forming for XRP near the $1.60 mark. His analysis is based on a divergence between the token’s price and cumulative volume delta (CVD), suggesting a potential shift in market momentum.
For the first time in weeks, there is a notable divergence between XRP’s price and spot CVD. Normally, when spot sellers dominate, the spot CVD declines along with the price. However, in this case, XRP’s price has started to climb despite continued selling pressure. This phenomenon — known as “spot absorption” — may indicate that large players are buying up XRP at a key support level.
This deviation from XRP’s previous pattern, where the price typically moved in sync with the spot CVD, is seen as a critical sign of a possible reversal.
The analysis also points to the end of the corrective phase, with the latest upward move originating from a “buy zone” at around $1.60.
However, this bullish scenario remains fragile and is heavily dependent on broader market conditions. A drop in Bitcoin’s (BTC) price could interfere with XRP’s recovery.
Currently, XRP is in a consolidation phase, mirroring the overall crypto market trend. Should market sentiment turn more favorable, Ripple’s native token could be poised for a breakout.
