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XRP is currently struggling to rise above the $2.10 mark and is down by more than 1% at the time of writing. Despite fluctuations, the overarching bearish sentiment continues.
Short-Term Bullish Bounce?
According to analyst Josh of Crypto World, here’s a short-term bullish divergence showing up. This has led to a bit of a relief rally, which is pretty common when this kind of divergence pops up. It’s happened before over the last few months, so it’s nothing new.
What’s Likely to Happen Next?
Considering the current support levels and the new bullish divergence, XRP is probably going to see a small bounce or some sideways price action in the coming days—maybe for about a week. It’s the same kind of movement that’s been seen before when similar patterns appeared.
Will the U.S. Stock Market Influence XRP?
A lot of eyes are on the U.S. stock market, especially with Monday’s opening. If the markets keep dropping, that could spill over into crypto, putting some bearish pressure on XRP. But if the stock market finds a bottom and bounces back, it could give XRP a little more breathing room for that short-term relief.
Resistance Levels to Watch
In the near term, XRP’s facing some tough resistance between $2.24 and $2.30—exactly where it’s been rejected before. If it manages to break above $230, the next hurdles are at $2.48, $2.56, and then between $2.65 and $2.80.
The Day Ahead
For the next day or so, the expectation is for XRP to keep that relief going or move sideways. No major bearish moves are expected right now, so the short-term outlook is slightly positive—but nothing too dramatic.