XRP Price Decreases by 6%, Potential Rebound Due to Bullish Divergence

user avatar

by Giorgi Kostiuk

2 years ago

While the price of XRP has fallen more than 6% over the past 24 hours, analysts have noticed signs that may indicate a potential recovery of the token in the near future.

Current Situation with XRP

According to CoinGecko data, the price of XRP, a cryptocurrency affiliated with Ripple, has decreased by more than 6% in the last 24 hours. This makes XRP the worst-performing token in the top 10 amid a drop that occurred on Thursday. Other major tokens, such as Cardano (ADA) and Dogecoin (DOGE), also fell by 5.9% and 5.7%, respectively.

Bullish Divergence: What It Means

According to 100eyes Crypto Scanner, the XRP/USDT pair on the hourly chart has shown bullish divergence. This phenomenon occurs when the Relative Strength Index (RSI) is rising despite falling prices. Such behavior often signals a weakening of the current bearish trend and may foreshadow a rebound.

Factors Influencing Future XRP Growth

Despite a recent short-lived rally following the launch of Ripple's RLUSD stablecoin, XRP is still 36.3% away from reclaiming its record high achieved in early 2018. However, among the factors that could influence further growth of XRP in 2025 are SEC's newfound crypto-friendliness and the growing buzz around XRP ETF.

Some analysts remain optimistic about the future of XRP, believing that current trends and potential growth factors could lead to a recovery of the token's price in the future.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Blockchain Association Calls for Clearer DeFi Regulations

The Blockchain Association has called on the US Treasury to clarify regulations surrounding DeFi software and foreign stablecoin issuers under the proposed GENIUS Act.

user avatarMohamed Farouk

Cardano's Innovative Catalyst Pilot Program Emphasizes Real Adoption

Cardano has launched a pilot program under Project Catalyst, selecting 12 teams to address the issue of crypto grant funding leading to actual product usage.

user avatarElias Mukuru

Visa and Mesh Join Forces to Simplify Cryptocurrency Transactions

Visa and Mesh have partnered to enable consumers to spend cryptocurrency and stablecoins directly from wallet apps at Visa-accepting locations.

user avatarDiego Alvarez

Solana Set to Launch Alpenglow Upgrade for Faster Transactions

Solana is set to implement its Alpenglow consensus upgrade aimed at achieving faster transaction finality.

user avatarKenji Takahashi

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.