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Expert Says Selling XRP Now Could Be Biggest Mistake in History, as XRP Holds Above Bull Market Support Band
Expert Says Selling XRP Now Could Be Biggest Mistake in History, as XRP Holds Above Bull Market Support Band
March 10, 2025
XRP
A well-known market analyst confirms that XRP has continued to trade above the pivotal Bull Market Support Band despite the ongoing downtrend. For context, XRP’s recent downward trend began in February, as the month introduced bearish price action across the broader crypto market. For context, XRP witnessed a 29.33% drop in February after posting an impressive 45.98% increase in January. The XRP drop is a reflection of the crypto market’s downward movement, with Bitcoin (BTC) recently relinquishing the $90,000 to change hands at the $82K price region at the time of reporting.
XRP Remains Above the BMSB
Meanwhile, despite being a victim of the market-wide collapse, XRP appears to still trade above the Bull Market Support Band (BMSB), according to analyst Steph (@Steph_iscrypto). The market watcher disclosed this in his latest analysis of XRP’s price movements, suggesting there is no reason to panic. For the uninitiated, the Bull Market Support Band is a momentum indicator used by market participants to identify whether an asset is in a bullish or bearish phase. Notably, the band typically consists of the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). Particularly, when the price stays above this band, it suggests strong bullish momentum, while dropping below it may indicate weakening trends or a potential bear market.
Data from Steph’s accompanying chart shows XRP still trades above the band. Notably, when its price hovered around the $0.50 to $0.55 range in October 2024, XRP changed hands below the BMSB, suggesting bearish momentum.
XRP Above Bull Market Support Band | Steph
However, upon the impressive price surge on the back of the Donald Trump election victory in November 2024, XRP price pushed above the BMSB, indicating that momentum had flipped bullish. Interestingly, the BMSB also surged as well, now sitting above the pivotal $1.9 price support.
XRP Remains Bullish, Eyes $30 Target
Despite the downward pressure XRP has faced since the start of February, it has maintained a position above this support, essentially holding above the BMSB. Citing the current position, Steph questioned why anyone would actually be bearish on XRP when it has continued to trade above the BMSB. Specifically, the asset’s position above the crucial indicator confirms that momentum is still bullish and the bull market might not yet be over. Also, while analysts at Standard Chartered predict further downside for Bitcoin, they believe the bull run is still intact and a recovery would ensue.
XRP is likely to ride on this Bitcoin recovery for greater heights. In a separate analysis, Steph called attention to a double bottom structure formed by XRP on the weekly chart. Notably, the first bottom formed when XRP hit a low of $0.1140 in March 2020 and the second bottom formed at $0.2870 in June 2022.
This is the worst moment in history to be selling your #XRP! pic.twitter.com/fKap4mhqt1
— STEPH IS CRYPTO (@Steph_iscrypto) March 8, 2025
Data suggests XRP has already broken above the neckline of the structure and could be poised for a massive upward push, aligning with the idea that the bull run remains intact. If this pattern holds true, Steph predicts an XRP rally to $30. According to Steph, this period represents the worst moment in XRP’s history for any investor to sell their holdings. This sentiment conforms with his belief that XRP is gearing up for a massive uptrend. With XRP currently trading for $2.18, a run to $30 would demand a 1,276% increase.
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