Despite a slight decrease, XRP shows potential short-term bullish momentum while remaining in a sideways trend.
Short-Term Bullish Price Action
In recent days, XRP has shown positive price movement. On the 8-hour chart, the price broke through the resistance zone between $2.25 and $2.30 and turned it into support. According to analyst Josh of Crypto World, this technical pattern usually signals potential further growth. The next major resistance levels are expected between $2.65 and $2.80, but the $2.50 resistance level remains crucial.
Sideways Range and Lack of Momentum
Despite the positive short-term signs, XRP's price has been stuck in a sideways range for the past month, showing a lack of momentum in any direction. This is due to the ongoing bearish divergence on the 3-day chart, which calls for caution, even with possible short-term gains.
Expecting More Sideways Movement
Given the current technical situation and the ongoing bearish divergence, XRP is likely to remain in a sideways trend in the near future. Bullish momentum is unlikely unless the current bearish signals are addressed. Traders should monitor the short-term patterns, but the overall market direction remains sideways.
XRP continues to trade range-bound, showing short-term bullish signs, but the overall market direction remains uncertain due to persistent bearish divergence.
