XRP’s price action is sending mixed signals. While short-term gains have appeared, the bigger picture on the weekly chart still leans towards weakness in the coming months. On the weekly timeframe, XRP has a confirmed bearish divergence, a technical sign that momentum is slowing. This usually points to a possible pullback ahead.
While short-term rallies can happen, the overall trend hints at a slowdown or even a deeper correction. Analysts believe that from late August into September and October, XRP could face more bearish price action, similar to other coins with the same chart pattern.
Daily Chart Shows Temporary Strength
Looking at the daily chart, XRP has enjoyed a strong bounce over the past week. However, this appears to be a short-lived rally within a larger bearish price structure.
The setup is similar to what happened earlier this year in January and February, when XRP rose sharply for a while but ultimately moved lower overall.
Support Levels to Watch
XRP is currently testing important support in the $3.10 to $3.15 range. If this level fails, the next support lies near $2.90 to $3.00. A daily close below $2.90 could pave the way for a deeper drop toward $2.75. Below that, the $2.55 to $2.62 zone becomes a critical long-term support area.
Resistance Remains Strong
On the upside, XRP continues to face tough resistance around $3.35 to $3.40. Over the last few days, this zone has repeatedly pushed the price back, making it a key barrier for any bullish breakout attempt.
Outlook for the Months Ahead
While XRP can still produce short-term rallies, the larger trend remains a bit shaky. Without a decisive break above key resistance, the risk of further downside remains. For now, if the $3.10 support can hold, as it may determine the coin’s next major move.
Credit: Source link