The recent price chart of XRP has shown a bearish divergence pattern on its 1-hour chart, as reported by 100eyes Crypto Scanner. This observation has garnered significant attention from traders and crypto analysts, especially due to its implications on the future price movement of Ripple's crypto.

Technical Analysis of XRP Price

According to U Today, the concept of bearish divergence is rooted in technical analysis, where it is identified through the relationship between the crypto price and the RSI oscillator. RSI is an important tool used by traders to determine whether an asset is potentially overbought or oversold relative to its recent price history. This specific bearish divergence pattern occurs when a crypto price, like XRP, reaches a new high while RSI fails to reach a new high, instead forming a lower high point. Based on the analysis above, the 1-hour chart reflects a potential bearish outlook for XRP in the short term.

Market Prediction and Performance

Additionally, popular crypto trader Mikybull has indicated that the situation surrounding XRP could become interesting soon. This is because the trend in which the current RSI resistance level is about to be breached seems imminent. Such a breakout could validate the bearish pattern or, conversely, indicate renewed strength in price. In terms of market performance, XRP has shown significant gains. According to the latest data from CoinGecko, XRP surged nearly 4 percent, making it one of the top performers among major cryptos in the last 24 hours, alongside Solana (SOL). This price increase peaked on Monday at US$0.5671. On the other hand, Bitcoin has seen a decline of 1.3 percent over the same period. Interestingly, XRP managed to gain approximately 5 percent against Bitcoin.

The performance divergence between XRP and Bitcoin is quite intriguing considering the lack of new legal developments in the ongoing SEC vs. Ripple case, which has been a major driver of volatility for XRP in the past. Additionally, this crypto has recorded declines for nine consecutive months, leaving many investors wondering if it will outperform Bitcoin and break the prolonged downtrend. Let's wait and see.