The XRP market is showing mixed signals, including bearish divergence on the long-term chart and neutral indicators in the short term.
Bearish Divergence on Long-Term Chart
Analysts point to a bearish divergence on the weekly time frame. While XRP's price continues to rise, the Relative Strength Index (RSI) shows lower highs. This may indicate weakening momentum despite price increases. A similar situation was seen at the end of 2020 when XRP faced a significant pullback.
Short-Term Price Forecast
On the daily chart, XRP is trading in a range between $2.90 and $3.40. Analysts note that this structure resembles what was observed earlier in 2021. A confirmed move above $3.40 would be needed to suggest a stronger bullish trend. Otherwise, strong resistance is expected between $3.35 and $3.40.
General Trends and Support Levels
Overall, XRP's trend shows potential weakness on longer time frames but neutrality in the short term. It is important to monitor the $3.40 level for bullish confirmation or the $2.90 level for signs of a deeper pullback. XRP is likely to remain in a sideways range.
The situation in the XRP market demands careful analysis, as current price levels could forecast upcoming movements in the weeks ahead.
