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President Donald Trump has signed an executive order establishing a new U.S. digital asset strategy. This new order creates a Bitcoin reserve for the U.S. government and a national stockpile for XRP and other altcoins. The move is part of efforts to secure digital assets for future economic stability.
XRP Price Struggles Despite Executive Order
Despite the excitement around the executive order, the price of XRP has not seen the expected positive reaction. Currently, XRP is down by more than 1%, trading at $2.50.
XRP Price Analysis: Bearish Divergence Signals Caution
According to analyst Josh of Crypto World, XRP’s price has been struggling on the 3-day chart. The asset is showing a significant bearish divergence, where higher highs in price are not matched by the Relative Strength Index (RSI), which is a sign of weakening bullish momentum. This suggests that large price gains are unlikely in the short term.
Resistance and Support Levels for XRP
XRP is facing resistance between $2.65 and $2.80. The price has struggled to break above this range, indicating possible further sideways movement. If XRP drops below $2.25, it could face further downward pressure, potentially reaching $2. However, if the price breaks above $2.80, resistance will appear around $3, with more at $3.20.
Outlook for XRP: Sideways Movement Expected
Currently, XRP is stuck in a sideways price range, with support around $2.25 to $2.30. The short-term momentum remains neutral, and the next major move will depend on whether the asset can break through the resistance levels mentioned above. For now, market watchers are cautiously waiting for a confirmed breakout.