The post XRP Price Prediction For August 4 appeared first on Coinpedia Fintech News
XRP is once again under pressure as bearish signals continue to build on both weekly and daily charts. One analyst has said that the token is just hours away from possibly confirming a major bearish divergence on the weekly timeframe, a technical pattern that has previously led to steep price declines. However, at the time of writing, XRP has gained 7% and is trading at $2.99.
Weekly Chart Flashing Warning Signs
XRP’s weekly price chart shows the formation of higher highs in price, while the Relative Strength Index (RSI) is forming lower highs, a classic sign of bearish divergence. This pattern was last seen between late 2020 and mid-2021, when XRP experienced a 60%–70% price drop over three months. Despite some strong bounce-backs during that drop, the overall trend was bearish.
Now, with a similar setup developing, a short-term bounce is still possible. However, the overall outlook fo
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