Comprehensive technical analysis of the performance of XRP, Bitcoin BTC, and Ethereum ETH
The latest technical analysis indicates that the XRP coin is showing a "Shooting Star" candlestick pattern on the daily chart, which often signals a short-term reversal, as the price rose to $3.70 before facing strong selling pressure. Additionally, the Relative Strength Index (RSI) exceeded 88, reflecting overbought conditions, which is an indicator that usually precedes a market correction. Without strong structural support, a reversal towards $3.20 or even $3.00 remains a possibility, especially if followed by declining trading volume.
Complete technical analysis of XRP and reversal predictions
The recent technical analysis combines negative candlestick signals with buying pressure, supporting the scenario of correction or temporary retreat. The "Shooting Star" pattern is confirmed by a clear rejection candlestick at $3.70, followed by a clear overbought condition in the RSI indicator.
Additionally, a report from FXEmpire revealed that XRP is also close to breaking a "Falling Wedge" pattern, suggesting a turning point between $2.92-$3.63, leading to a balance of these technical frameworks between short-term correction probabilities and long-term rebound opportunities at support levels of $3.30–$3.40 or even $2.90–$3.00.
On the fundamental side, XRP is receiving support from developments related to its potential legal case and announcements about future ETFs 😉#StablecoinLaw
