The cryptocurrency market is sideways, with total market cap holding around 3.87 trillion USD; XRP has short-term recoveries but bearish risks still exist.
In the last 24 hours, the market cap increased slightly by 0.12% to 3.87 trillion USD. XRP is experiencing short-term rebounds, but the bearish divergence on the weekly timeframe and key support/resistance levels still dictate the medium-term trend.
MAIN CONTENT
The market is sideways, with a market cap of ~3.87 trillion USD, increasing by 0.12% in the last 24 hours.
XRP has confirmed bearish divergence on the weekly timeframe, signaling the risk of a prolonged pullback.
The 2.85–2.90 USD and 3.34–3.40 USD ranges are key support/resistance levels to watch.
Why is the bearish divergence on XRP's weekly timeframe still concerning?
The bearish divergence on XRP's weekly timeframe has been confirmed and has not been invalidated, indicating that the pressure for correction may continue.
This divergence indicates that upward momentum is weaker than the price peak, often leading to a cooling-off phase lasting several weeks or months. This does not rule out short-term rebounds but warns that the prevailing trend still leans bearish.
How is XRP's short-term recovery related to Bitcoin?
XRP's current bounce is somewhat related to Bitcoin's bullish divergence, giving the altcoin room for temporary recovery.
When Bitcoin Dominance shows signs of retreating, capital flows into altcoins facilitating slight increases. However, these rebounds should be seen as short-term relief rather than confirmation of a major trend reversal.
What important price levels should be monitored for XRP?
Strong support is noted around 2.85–2.90 USD, with additional support near 2.75 USD; deeper risks could bring prices to 2.55–2.62 USD.
Above, the immediate resistance is around 3.10 USD; the 3.34–3.40 USD range is a significant obstacle that has repeatedly rejected previous rallies. If convincingly breaking above 3.10 USD, buyers may target a retest of 3.40 USD; conversely, losing 2.85 USD would open the door for further losses.
Short-term trading strategies when encountering bearish divergence
Prioritize risk management: reduce position size and set tight stop-losses when the medium-term trend is unclear.
In an environment with bearish divergence on the weekly timeframe, professional traders often look for confirmation signals of recovery (volume, candle close) before opening buy positions, and consider trading in the opposite direction when key support is broken.
What are the main risks investors should be aware of?
Risks include prolonged bearish divergence, strong resistance levels, and market volatility due to Bitcoin's trend.
Short-term rebounds can be misleading as reversals; investors should rely on longer time frames and manage leverage, avoiding expectations of continuous price increases in the context of an unconfirmed bearish divergence.
Frequently Asked Questions
Is XRP in an uptrend or downtrend?
The weekly timeframe shows that bearish divergence has been confirmed, meaning the medium-term trend leans bearish; short-term rebounds still occur but are not enough to be considered reversals.
What are the key support and resistance levels for XRP?
Key support around 2.85–2.90 USD and 2.75 USD; deeper risks at 2.55–2.62 USD. Immediate resistance at 3.10 USD, strong resistance at 3.34–3.40 USD.
What does it mean if XRP breaks above 3.10 USD?
Breaking above 3.10 USD convincingly will create an opportunity for buyers to target a retest of 3.40 USD, but confirmation with volume and a close above this range is needed.
What should be done when a bearish divergence exists on the weekly timeframe?
Prioritize reducing risk, set stop-losses, trade on short-term confirmations, and avoid using high leverage for buy positions until the divergence is invalidated.
Source: https://tintucbitcoin.com/du-bao-gia-xrp-ngay-29-8/
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