XRP is green on the weekly, sure, but let’s not act like this candle is rewriting the price narrative — it is more like a tiny fish splashing around in a giant tank of red water.
The price sits at around $2.49 right now after bouncing off $2.32 lows, but the chart is not offering any comfort because the move happened deep inside the lower half of the Bollinger Bands and nowhere near the kind of territory that would actually make bulls feel safe.
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For those not familiar, the Bollinger Bands do not just show volatility, they show bias, either bullish or bearish, and right now, XRP is poised for the latter.
The flush on Oct. 10, now infamously known as “Black Friday” on the crypto market, put the price through the middle to the lower band and left the token prone to bears.
Even with this little rebound, XRP is still fighting for air under the moving average line that is vital near $2.54. As long as price candles keep stacking below that line, the market is not offering strength but rather dangerous “dead cat” rebounds.
Context
The daily view underscores the same point for the XRP price. Every attempt to push higher has been met with selling, and the lower Bollinger band around $2.09 has not disappeared as a point-of-control target.
Some may call this a recovery, but they are ignoring the context: you do not climb out of a hole just because you move a couple of steps off the bottom, especially when the rope you need — in this case, a clean break over the middle band — has not even been properly touched.
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So yes, XRP is technically up this week. But when the weekly candle is a nothing inside the lower range, until the middle band is reclaimed and held, this is less rally and more a bullish desire to take control on a chart that leans lower.
