4 data points suggest XRP price bottomed at $1.12: Are bulls ready to take over?

Multiple technical, onchain and exchange-traded product data points suggest $1.12 was the generational bottom for XRP. Is it time for a trend reversal?

XRP (XRP) recovered 50% to a high of $1.67 from its 15-month low of $1.12 reached on Feb. 6. While the altcoin’s intraday price of $1.43 remains more than 60% below its multi-year high of $3.66, several metrics suggest that the local low at $1.12 could be the new bottom with XRP price set for a sustained recovery.

Key takeaways:

XRP supply on exchanges has dropped to a five-year low as holders moved tokens to self-custody, possibly signaling reduced selling pressure.

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