XRP’s weekly chart has been flashing the same warning for months. A large bearish pattern that first appeared in late July and early August is still active, and it continues to push the price lower. This long-term signal shows fading strength and very little upward momentum.
Because this pattern has not ended yet, XRP is still likely to face more weakness over the next few months. The bigger trend has not changed, and the price remains under pressure.
Daily Chart Shows a Chance for Short-Term Relief
The daily chart looks slightly better. XRP is forming a new lower low in price, but the RSI indicator is forming a higher low. This difference sometimes leads to a short bounce or a few days of relief.
But nothing is confirmed yet. For this signal to count, XRP needs to show a clear bounce in the daily RSI in the coming days. If that happens, the price may move sideways for a while or rise gently for a few days or maybe a week or two.
However, this kind of short lift does not mean the whole trend is changing. It only offers a break from the recent heavy drop.
Small Bounce Possible, But Big Trend Still Negative
Even if XRP gets a short-term bounce, the larger picture remains weak. The long-term pattern on the weekly chart is still active, and that means downward pressure can return after the short relief phase. A true recovery needs stronger signs, and those have not appeared yet.
Important Price Levels
XRP has a major support zone between $2.50 and $2.70. This area could help slow down further losses if the price falls again.
On the upside, XRP faces strong resistance between $2.30 and $2.40. The price needs to break above this zone to show early strength.
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.
Credit: Source link