XRP is showing strong short-term movements, but analysts warn that a bearish trend may be looming on the horizon.
Current XRP Movements and Their Significance
XRP has recently shown some strong short-term moves. However, analysts warn that despite a few temporary price bounces, XRP may still be facing a larger bearish trend in the weeks ahead.
Short-Term Pops and Long-Term Risks
The analyst explained that while we might still see some short-term upward moves, these are likely just temporary bounces within a larger downward trend. He warned investors not to get carried away by small rallies, saying the overall price structure still looks bearish on both the weekly and daily charts.
Key Support and Resistance Levels
XRP is now testing a key zone between $2.90 and $3.00. There’s also been some support around $2.75, and if the price drops further, the next major area to watch will be between $2.55 and $2.62. These levels were strong resistance in the past and could now act as support. On the upside, resistance is expected around $3.10 to $3.20, which is where XRP was recently rejected.
Given the current trends, while XRP may continue to see price bumps here and there, the overall trend still looks bearish unless key resistance levels are broken.
