XRP declines 10% over seven days compared to Bitcoin and Ethereum’s drops. Analyst Guy on the Earth identifies developing bullish divergence on daily chart structure. Target for potential rebound sits at $2. 70 resistance where token faced rejection October 27. XRP trades within bearish territory, but an emerging bullish divergence on the daily chart could trigger a price reversal. The token has shown relative strength compared to other major cryptocurrencies during the recent market decline. Bitcoin has dropped 11% over the past seven days while Ethereum and Solana have corrected slightly higher during the same timeframe. XRP has experienced a milder decline, maintaining better performance than its peers. Price holds above key psychological level Analyst Guy on the Earth expressed surprise at XRP’s resilience. He highlighted that he couldn’t believe XRP would remain above $2 when Bitcoin dropped to $91,000. Bitcoin has fallen further to $89,520, but XRP continues trading well above the $2 mark, changing hands at $2. 14. The commentator identified a developing bullish divergence on the daily chart with potential to fuel a price rebound. An accompanying chart elaborates on the divergence between XRP’s price action and the relative strength index. XRP has followed a lower low pattern since the October 2 high of $3. 10. The token fell from the resistance area to the October 10 low and has continued making new lows after each lower high formation. However, the RSI has been creating higher lows. These conflicting developments align with the bullish divergence pattern, which typically precedes price recovery. The analyst expects the rebound to materialize soon if conditions hold. The target for this potential run would be a retest of resistance at $2. 70, where the token previously faced rejection during a lower high formation on October 27. Downside scenarios remain possible Despite bullish technical patterns, XRP could correct further from current levels according to Guy on the Earth. He warned that the $2. 2 support represented an opportunity for weak hands to exit, with bull market support around $1. 90 and $2 serving as the “last chance” for buyers to enter. If bears conquer the $2 support as they did the $2. 2 zone, the analyst predicted a longer consolidation phase. He stated XRP could reach $0. 85, a low last seen in mid-November 2024. From the current trading level, this represents a 60. 2% decline. However, parallel analyses do not agree with this bearish scenario. Cryptollica shared that while XRP might drop below $2 to retest $1. 95, he expects a bounce from that area to a new all-time high of $10 per token.
https://bitcoinethereumnews.com/tech/analyst-identifies-bullish-divergence-on-xrp-chart-amid-correction/
Analyst Identifies Bullish Divergence on XRP Chart Amid Correction
