XRP is now showing clear signs of a potential trend reversal after forming a rare multi-cycle triple bottom pattern on macro charts.
At the time of writing, XRP is currently trading at $1.5378, down 0.18% since it opened early Wednesday in Asian trading.
This pattern typically signals that selling pressure is easing, with the price beginning to stabilize around key support levels.
Based on technical analysis, XRP is believed to be in the final phase of a correction, known as the final leg of wave C.
This phase is often considered a key turning point where the market can transition from a downtrend to a new uptrend.
Chart observations show that three major bases have formed over the past few months, with prices remaining respectful of the trendline and moving averages.
The area around $0.91 is now a critical zone as it is aligned with the 0.618 Fibonacci retracement, marking the previous structural demand, and is in line with the final leg of the correction.
This zone is believed to be a possible final bottom before the market is ready to start a larger bullish momentum.
Meanwhile, the $1.65 level is an important marker for investors looking for strength.
If XRP manages to break this level firmly on the weekly timeframe, it will be a clear signal that the long-term bearish structure has ended, paving the way for a new bullish phase.
With the triple bottom pattern almost complete, the market is now waiting for the next bullish momentum that could take XRP price higher in the next market cycle.
This analysis provides clear guidance for investors, the $0.91 zone is the area to watch for a possible final bottom, $1.65 being the first sign of market strength, and a break of the bearish structure signaling the start of a new bullish phase.
If this pattern works out as expected, XRP could be ready to start a new bullish wave that will capture the attention of the global crypto market.
