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The broader crypto market is also experiencing a bullish surge, with Bitcoin trading above the $86,000 mark. ADA has gained a whopping 16% in the last 24 hours. Ripple’s XRP has also bounced back in the last 24 hours and is up by more than 6%. The price is now trading at $2.44, eyeing to break levels above $2.50.
Bearish Divergence on the 3-Day Chart
According to analyst Josh of Crypto World, XRP has been showing signs of a bearish divergence on the 3-day time frame. This means that while the price has been making higher highs, the Relative Strength Index (RSI) has been making lower highs. This divergence has been present for some time, and despite short-term bounces, it suggests that we might not see a strong bullish trend anytime soon. Until XRP sees a confirmation of an invalidation signal, the bearish trend could still continue.
Short-Term Price Action: Support and Resistance Levels
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