XRP is currently trading around $2.07, with RSI divergence forming on the daily chart. This technical signal is a bullish pattern also observed near the market bottom in 2022, indicating a potential trend reversal. Despite downward pressure on the price, the movement of RSI making higher highs is characteristic of this divergence.
On-Chain Indicators Reveal Changes in Market Structure
Analysis of blockchain data shows that long-term holders are changing their behavior. Specifically, there is a noticeable trend of holders reducing selling pressure, which increases the likelihood that this decrease in selling will support the price at the bottom. Market participants interpret this indicator as a positive sign and a potential source of rebound strength.
Key Price Levels and Market Participants’ Focus
Traders are closely watching the levels of $1.96 on the upside and $1.76 on the downside. If XRP can close above $1.96, the reliability of the RSI divergence will increase, possibly signaling a shift to a strong upward momentum. Conversely, if the price drops below $1.76, the current downtrend may continue, increasing the risk of further declines. Market participants are monitoring these levels as part of their trading decision-making process.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
XRP, RSI Divergence Indicates Market Turning Point and Important Support Levels
Current XRP Market and Technical Signals
XRP is currently trading around $2.07, with RSI divergence forming on the daily chart. This technical signal is a bullish pattern also observed near the market bottom in 2022, indicating a potential trend reversal. Despite downward pressure on the price, the movement of RSI making higher highs is characteristic of this divergence.
On-Chain Indicators Reveal Changes in Market Structure
Analysis of blockchain data shows that long-term holders are changing their behavior. Specifically, there is a noticeable trend of holders reducing selling pressure, which increases the likelihood that this decrease in selling will support the price at the bottom. Market participants interpret this indicator as a positive sign and a potential source of rebound strength.
Key Price Levels and Market Participants’ Focus
Traders are closely watching the levels of $1.96 on the upside and $1.76 on the downside. If XRP can close above $1.96, the reliability of the RSI divergence will increase, possibly signaling a shift to a strong upward momentum. Conversely, if the price drops below $1.76, the current downtrend may continue, increasing the risk of further declines. Market participants are monitoring these levels as part of their trading decision-making process.