XRP is trading at $1.04, down 1.38% over the past 24 hours, with price action remaining flat as the market waits for the US stock market to reopen.
On the weekly timeframe, the longer-term trend remains technically bearish. No confirmed bottom or reversal signal has emerged yet from the larger bearish structure. However, XRP has a well-established support zone between $0.90 and $1.00, and the recent bounce came from almost exactly $1, which is an encouraging sign for bulls. On the upside, strong resistance is expected around $1.13, a level traders will be watching closely if any recovery attempt develops.
Daily Chart Shows Exhaustion, Not Reversal
On the daily chart, the past two days have produced extremely small candle bodies, reflecting very little directional conviction in either direction. This kind of flat price action is actually one of the most common outcomes following a bullish divergence, which is the technical signal currently present on XRP’s chart.
A bullish divergence does not mean a big rally is coming. What it does mean is that the sellers are losing momentum and running out of energy. The bearish pressure that dominated recent weeks is showing signs of fatigue, producing sideways movement rather than continued sharp drops.
What to Watch Next
The bullish divergence has not yet been confirmed with a strong green candle, meaning it could still be invalidated. One scenario to watch is another dip in the RSI that still holds above the early June low, which would reconfirm the divergence signal and keep the setup intact.
Until the US stock market opens and provides directional cues, XRP is expected to remain in neutral territory with little movement in either direction.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Read the Next News
Be the first to comment