The current analysis of XRP reveals a bearish divergence, indicating a lack of strong bullish momentum in the near future. Let's examine the current support and resistance levels and the cryptocurrency's long-term prospects.
Technical Analysis
XRP is showing a bearish divergence on the 3-day chart, meaning a strong bullish impulse is not expected soon. While short-term bounces from certain support levels could occur, significant price increases are unlikely.
Support and Resistance Levels
Currently, XRP is testing an important support zone between $2.25 and $2.30. A bounce from here could establish a short-term bullish trend. The move could push XRP toward the next resistance levels between $2.65 and $2.80, though resistance at $2.50 might slow it down.
Long-term Prospects
XRP is still holding within a sideways range between $1.20 and $2.80, suggesting more choppy price movements. While some analysts are hopeful for a breakout, XRP hasn't shown clear signs of strong bullish impulse, especially as it struggles below resistance. In the long run, if the market shows positive momentum, the $5 to $5.65 range could be possible, but this hinges on maintaining the critical $2 support level.
XRP is currently balancing between significant support and resistance levels. The long-term prospects depend on maintaining key price levels and the general market dynamics.
