Since the beginning of March, the XRP exchange rate has experienced noticeable fluctuations, leading investors to speculate about its further movement. Let's consider the opinions of experts on possible scenarios for the development of events.
XRP Bullish Divergence on Multiple Timeframes
Popular analyst CasiTrades notes the presence of bullish divergence on XRP's lower timeframes, signaling waning downward momentum. He indicates that such a signal is positive for short-term bounces and potential long-term recovery. CasiTrades pointed out the resistance level at $2.25, which, if broken, would indicate a strong bullish breakout.
Is the XRP Local Bottom In?
Other analysts, like Peter Brandt, warn of potential deeper corrections. He notes the formation of a head-and-shoulders pattern, which could push the price to $1.07. Brandt asserts that a break below $1.90 would signal further decline.
What Role Do External Factors Play?
Meanwhile, macroeconomic factors like US tariffs could pressure the market, pulling XRP's price to $1.31. Nonetheless, analyst Dark Defender remains optimistic, predicting XRP's rise to levels between $5 and $8 in April-May.
Amid market instability, there's a divide over XRP's future movements. Regardless of the scenario, investors should be prepared for potential volatility and carefully research the market before making decisions.
