XRP has staged a sharp recovery in September, moving from lows of $2.70 to trade near $3.16. This rebound of more than 12% in just seven days reflects renewed buying pressure, but market observers warn that the digital asset is now at a decisive turning point.
Trader Matthew Dixon noted that XRP remains in an uptrend but suggested that a potential “E wave” of a broader triangle structure may need completion before the next major surge.
The weekly chart paints a constructive picture. XRP has been holding above the 20-week simple moving average, also known as the Bollinger Band, which sits near $2.65. Candles have been trending higher from that line, and the price is pressing back toward the upper band around $3.54.
A weekly close above this level would indicate strength and signal that XRP may begin what traders describe as a “band walk,” where the price climbs in steps along the upper boundary.
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Momentum indicators confirm this recovery move. The RSI is at 60 or so, indicating XRP is in a bull region without any indication of overstretch. Should the RSI break above 62–65, previous tendencies imply the momentum may gain even more pace hereafter, providing shallower pullbacks.
The MACD indicator also continues to recover. The histogram became positive again and the lines are crossing near the zero line. Traditionally, such a reversal into the positive side tends to affirm trend continuation rather than a short squeeze.
Both the RSI and the MACD readings suggest that the energy in the market is turning again in favor of the buyers.
Market structure highlights several areas that would guide the movement of XRP. Resistance is in the area of $3.30–$3.55 and corresponds to the top Bollinger band and a major supply area.
A close above this area should pave the way towards $3.70–$3.85, where earlier wicks suggest heavy profit-taking, and then the psychologically significant $4.00 barrier.
Support is at $2.65, the 20-week moving average. A breakdown through it would show $2.30–$2.40 and potentially $2.00–$2.10. A further move down may test the $1.77 lower barrier.
Weekly coming candles will be significant. A firm close above $3.55 with surging RSI and MACD would confirm bullish continuation. But constant rejection around resistance or a clear breakdown of $2.65 would have momentum shifting in the seller’s favour.
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