[DigitalToday reporter Yoonseo Lee] XRP has posted a smaller rise than other major altcoins in a recent market rebound, prompting analysis that it could be the next to climb.
On May 13, blockchain media outlet The Crypto Basic reported that Shual Pollings, founder of crypto analytics firm AltCryptoGems, said XRP could see a delayed upswing if it breaks through a key resistance zone.
The key is its underperforming return compared with the broader market. As a rebound continues in a bid to recover this year’s losses, the overall cryptocurrency market has risen more than 14 percent since a March low. XRP has gained 8.2 percent over the same period. That was relatively weak compared with double-digit gains by top assets such as Bitcoin at 18.28 percent, Ethereum at 10.13 percent, BNB at 11.03 percent, Solana at 15.3 percent and Tron at 11.5 percent.
The broader market trend was also outlined. Total cryptocurrency market capitalisation slid to $2.22 trillion in March before rebounding in April, and the recovery has continued this month, rising to about $2.68 trillion. The market rose 8.53 percent in April and is up 6.18 percent so far in May. Even in that stretch, XRP did not show a move matching the market’s strength.
On the chart, the upper band of a parallel horizontal channel on the 12-hour timeframe has continued to act as resistance. XRP broke above the zone once during a mid-March rally, but fell back below the channel after hitting $1.60. It was blocked again around $1.51 in mid-April and then pulled back. The current price is around $1.42, and it is again testing the upper resistance.
Pollings said of the recent XRP price action: "Price is pushing against the resistance, so it’s probably time to pay attention here." The key condition he cited was that XRP must form a candle close above $1.50, which overlaps with the channel top.
Still, he did not see an immediate straight-line rise even if it breaks above that level. Pollings said a pullback could come first to retest the upper trendline after the breakout. He presented a scenario in which further gains could then be possible up to $1.60. That would make XRP the next leading altcoin mover, he said.
This analysis puts more weight on XRP as a coin that has risen less than the market during the rebound, rather than on absolute strength in XRP itself. The near-term focus is whether the broader market recovery continues and whether XRP can break above the $1.50 resistance and turn it into support. Without confirmation of a breakout, the possibility remains that it could be pushed back again at the channel top, as before.
$XRP has been lagging a bit lately, while many altcoins have been running nicely. This has struggled to break above this resistance. Price is pushing against it, so it's probably time to pay attention here; it might be the next mover! pic.twitter.com/NBK7WDvl6k