50$🤑

$XRP


Analysis: Short-Term Weakness Amid Long-Term Potential

Currently, $XRP is showing significant weakness, especially on its 1-hour chart, where a series of three bearish divergences has been identified. The hourly RSI has dropped below 50 (currently at 48.1), signaling bearish momentum. Despite recent skepticism around prior predictions, the technicals have validated concerns, pointing to a cautious short-term outlook.
Short-Term Outlook
Momentum and Volume: Weak momentum and declining trading volumes are reinforcing the bearish narrative.Pattern Breakdown: The price is breaking down from a Rising Wedge pattern, with the next target zone identified at $2.91.Confluences at $2.91:
1️⃣ This level coincides with a prior Rectangle breakout zone, where $2.91 acted as resistance before.
2️⃣ On the daily chart, the $2.91 zone aligns with December’s swing high, adding further significance.
3️⃣ Additionally, it marks the 0.382 Fibonacci retracement level, following XRP’s latest explosive rally.
Given these multiple confluences, $2.91 is a critical level to monitor, whether for a retest to add to long positions or a breakdown to signal further downside.
Medium and Long-Term Outlook
While the short-term setup suggests caution, the medium- to long-term perspective remains bullish. For investors aiming to ride the broader trend, key support zones like $2.91 could provide valuable entry opportunities for scaling into positions.
Strategic Considerations
Bullish Retest Scenario: A retest of $2.91 from above may provide a solid opportunity to add to long positions, especially if supported by rising volume and improving RSI.Bearish Breakdown Scenario: Should $2.91 fail to hold and the price retests it from below, this could signal a stronger bearish trend, prompting the need for reassessment.
Final Thoughts
XRP’s short-term weakness is undeniable, but it remains poised for potential upside in the long run.

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