After reaching its lowest level at $ 2.03, XRP finally returned to the level of $ 2.10, which indicates a profit of more than 1 %. However, the cryptocurrency has struggled over the past week, as it was closed in red during six last seven trading sessions. This weakness comes amid a wider stagnation in the encryption market, as the low prices and uncertainty in the invested of pressure on most digital assets.
Currently, the XRP price scheme reveals the tension of the rope between the homosexuals and the filtering across different time frames. On the chart for 3 days, the strong, strong difference is still active. This indicates that although the price of XRP may move, the momentum behind these moves is not as much as it appears. The situation has not changed significantly last day, indicating that the declining pressure is still prevailing.
The emerging bullish divergence on the graph for 8 hours
In contrast, the chart appears for 8 hours signs of the upscale difference. While the price of XRP was spreading a decrease in its lowest level, the RSI index – a major momentum index – was its lowest level. This pattern indicates that although the price is low, the primary momentum is to enhance. The strongest reversion in RSI during the next day will provide an additional confirmation of this possible reflection.
In the short term, it is expected that a side price is expected, with slight difficulties. Historical patterns indicate that such settings often lead to modest escalating moves followed by monotheism or, in favorable conditions, more important upward clusters.
XRP price movements remain closely related to Bitcoin and the broader cryptocurrency market. Unless Bitcoin suffers from a large bullish outbreak, XRP capabilities to increase large prices seem limited in the short term. The main support levels are determined between $ 1.95 and $ 2.05, as the purchase benefit is likely to appear if the price decreases. The resistance is expected to range between $ 2.24 and $ 2.30, a region in which it tends to intensify the pressure pressure.
