Over the last few months, XRP’s price has been showing a significant bearish divergence. While the price has been making higher highs, the 3-day Relative Strength Index (RSI) has been making lower highs. This suggests that the upward momentum may not be as strong as it appears. According to analyst Josh of Crypto World, the market should not expect any major bullish moves for now. Short-term bounces are normal, but sustained upward momentum like we saw in the past is unlikely in the near future.
Struggling at Key Resistance Levels
In the shorter term, looking at the 8-hour chart, XRP recently bounced from a support area and moved up towards a resistance zone between $2.25 and $2.30. As anticipated, the price is now struggling at this level.