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Ambivalent relationships, defined as relationships involving both positive and negative elements, are pervasive and have been linked to adverse health and well-being outcomes. Whereas prior research has treated ambivalence primarily in terms of the simultaneous experience of mixed sentiments, the central contribution of this study is the development of a temporal approach that conceptualizes ambivalence as fluctuations in the valence of relationships over time. Drawing on longitudinal egocentric data from two age cohorts in UCNets, it examines which relationships experience oscillation between periods of positivity and periods of negativity and the relational factors associated with it. Results from multilevel multinomial logistic models reveal that family ties, particularly those with partners and immediate kin, were most likely to be considered ambivalent across both age groups. Among older adults, extended kin and friends were also likely to be perceived ambivalent, suggesting the expansion of ambivalence in later life. Emotional closeness was a significant source of ambivalence regardless of age. Results for patterns of exchange revealed differences between receiving and providing support, with effects varying by life course stage. Among older adults, a greater volume of received support was associated with more positive relationship perceptions, while providing support to others was linked to ambivalence rather than persistent difficulty, possibly reflecting greater acceptance of interdependence in later life. Among younger adults, providing support was associated with both ambivalence and persisting difficulty, suggesting a stronger experience of burden at this stage. Altogether, findings highlight the dynamic aspect of ambivalence and show how it is shaped by role relationship, relational quality, and pattern of exchange.