Furthermore, recent bounces off the channel low are said to have seen above-average daily volume, indicating institutional accumulation at that confluence. Meanwhile, an overnight swing for the altcoin formed a higher low above the monthly Value Area Low (VAL), reinforcing support and trapping the bears. With a break above the previous swing high, XRP has confirmed a shift to higher highs, completing a bullish market structure flip.
The analyst further noted that after a steady pullback from the local high at $2.36, the price is now approaching a key support region between $2.078 and $2.00. This zone is said to have acted as a pivot point in the past and is where the market could start to turn if strength returns.
