XRP Price Shows Rare Bullish Setup Amid Market Decline

The cryptocurrency market is experiencing declines, but XRP is showing signs of potential upward movement.

XRP's Bullish Indicators

  • Expert Bobby A highlights a rare bullish setup for XRP, with multiple indicators suggesting upward momentum.
  • XRP’s market cap has remained above its 2018 peak for over 300 days, indicating strength.
  • A multi-month bullish flag pattern is forming, with key support zones at $1.9 and $2.89.
  • The Relative Strength Index (RSI) suggests a potential sharp upward move.
  • Potential take profit zones are projected between $5 and $13.

XRP Chart

Bobby notes the possibility of a strong surge if Bitcoin dominance decreases, allowing altcoins like XRP to gain market share.

Bearish Divergence Concerns

  • Analyst JD points out a Bearish Divergence on XRP’s weekly chart, leading to a 27% correction from a previous high.
  • This divergence indicates short-term bearish pressure despite broader optimism.
  • JD warns that ignoring this signal could result in further declines unless momentum resets.

XRP Weekly Chart

Overall, while XRP shows potential for growth, short-term caution is advised due to current bearish signals.