XRP appears to be in an upward trend, confirmed by crypto analyst Cryptoinsightuk, who has highlighted bullish divergences across different timeframes.
Fast and Slow Indicators
Analyzing the first chart representing XRP's daily timeframe, the analyst notes the price has sustained the range lows while forming a bullish divergence on the Relative Strength Index (RSI). This indicates weakening selling pressure and a potential trend reversal.
Three-Day Chart Strengthens Trend
The second chart, covering the three-day timeframe, suggests the standard RSI is at a level previously associated with a $0.55 price. This confirms the recent downturn was likely a correction rather than a full trend reversal. The analyst highlights the importance of a bullish RSI crossover, which could signal the continued upward trend.
Market Sentiment and Forecasts
Current XRP price action shows strong support, with buyers defending range lows. Bullish divergences across multiple timeframes suggest diminishing selling pressure, increasing the likelihood of a price rebound. XRP recently traded at $2.18 following a 6% increase, pushed up by strong support at $1.9, which aligns with Cryptoinsightuk's predictions for continued growth.
The analysis indicates XRP maintains key support levels, which may foreshadow the upward trend continuation recently pointed out by Cryptoinsightuk.
