The post XRP Price Prediction For August 5 appeared first on Coinpedia Fintech News
XRP has shown some bullish action in the short term, climbing back above key support levels. However, a closer look at long-term technical indicators reveals that this rally may be temporary. According to recent analysis, XRP could be entering a period of correction that may last several weeks or even months.
Bearish Divergence on the Weekly Chart
One of the strongest warning signals comes from the weekly time frame. Analysts have confirmed a bearish divergence on the XRP chart. This happens when the price makes higher highs, but the Relative Strength Index (RSI) makes lower highs.
The last time such a pattern appeared was between late 2020 and early 2021. That divergence led to a 60% drop in XRP’s price over a span of about three months. While the price did bounce during that period, the overall trend remained negative for a while.
What History Tells Us
The previous bearish divergence sa
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