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XRP is showing a bearish divergence on the 3-day chart, meaning a strong or lasting bullish momentum is not expected in the near future. While there could be short-term bounces from certain support levels, significant price increases are unlikely for now.
Support Levels to Watch
Currently, XRP is testing an important support zone between $2.25 and $2.30. As of now, the price is holding steady within this range. If it successfully bounces from here, it could set up a short-term bullish trend. A confirmed bounce could push XRP up toward the next resistance levels between $2.65 and $2.80. However, resistance at $2.50 might slow down the momentum.
What If XRP Breaks Support?
On the other hand, if XRP fails to hold support and the price falls below $2.25, it would indicate a potential retracement toward the next critical support area, around $1.95 to $2.05. This price action would align with the larger sideways trend XRP has been in for the past several weeks.
Looking Ahead: What Could Happen?
Looking at the broader picture, XRP is still holding within a sideways range between $1.20 and $2.80. This range suggests the price may experience more choppy and unpredictable movements. While some analysts are hopeful for a breakout, XRP has not shown any clear signs of a strong bullish impulse, particularly as it continues to struggle below major resistance levels.
In terms of long-term price targets, if the market starts to show positive momentum, the $5 to $5.65 range could be possible, but this depends heavily on the market maintaining the critical $2 support level. A decisive break below this support could signal a bearish scenario, pushing XRP lower into the support range and possibly leading to a more significant correction.