Despite the low performance of Ripple (XRP) this week, analysts point to a potentially bullish setup emerging in the XRP/BTC trading pair.
Bullish scenario: If XRP/BTC confirms the rebound and recovers 0.00002450 BTC in the coming sessions, it could rise towards the next major resistance near 0.00002800 BTC, a zone last tested in March.
Bearish invalidator: A drop below 0.00002180 BTC would break the market structure and likely trigger an extended decline towards 0.00001900 BTC, invalidating the bullish divergence setup and reinforcing broader weakness.
With over $165 million in short leverage accumulated around $2.50 in the USD pair, bulls will need a strong push, and perhaps a broader change in sentiment, to turn both key pairs upwards.
Until then, XRP remains at a technical crossroads, with derivatives traders and chart watchers focused on whether the RSI signal marks a true turning point or another failed breakout attempt.