$XRP price is currently holding between its all-time high of $3.66 and the previous record high of $3.40. The token faces an increasing supply amid reduced buying pressure, as evidenced by the Relative Strength Index (RSI) still being overbought but dropping to 81.
If the $XRP RSI continues to decline, it will indicate that bearish momentum is building. Losses below the $3.40 level could trigger a sell-off as investors rush to protect their capital by reducing exposure.
XRP/USDT daily chart
Despite the short-term bearish outlook, the upward-facing moving averages in the daily time frame reinforce the bullish grip. Additionally, a Golden Cross pattern, triggered on July 13 when the 50-day EMA crossed above the 100-day EMA, suggests price momentum has shifted upward and is strengthening market sentiment. This shows that $XRP still has the potential to reach higher levels despite short-term hurdles.
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