๐ $XRP Alert: Hidden Bullish Divergence Points to Potential Rebound!
#MarketAnalysis #XRP #CryptoNews
XRP is showing signs of a hidden bullish divergence, hinting at a short-term recovery for bulls. ๐ Currently, over $695M in XRP shorts are at risk if prices start climbing, creating the perfect setup for a potential short squeeze. โก
On the 3-day chart, price is forming higher lows while the RSI hits lower lows, signaling weakening downward momentum. ๐ง History shows similar divergences โ in early 2022 and late 2023 โ triggered price surges of 69% and 49%, respectively, although these gains were temporary.
At the moment, XRP has slipped 11.95% to $2.229, with analysts noting a bearish bias. ๐ Support sits at the lower trendline of a symmetrical triangle, which, if broken, could push XRP toward $5. ๐
The market is heavily skewed toward shorts vs. longs, meaning a rally toward $2.60โ$3.50 could spark a serious short squeeze. โ๏ธ
๐ก Takeaway: While the charts show bullish potential, risks remain. Always do your own research before trading! ๐
