$XRP
๐จ Will we see XRP drop below $2 again today? ๐ค๐
XRP's long-term chart shows a bearish divergence on the daily and weekly time frames. ๐โ
๐ The price has formed a higher high over the past few weeks, but the RSI has made a lower high, suggesting that buyers are losing momentum. Moreover, the RSI continues to decline from the overbought zone, increasing selling pressure. ๐ป๐
โ ๏ธ Although XRP has managed to invalidate previous divergences on lower time frames (LTF), the bearish divergence on the daily and weekly charts is concerning as higher time frames (HTF) determine the dominant trend. ๐จ๐
๐ What could happen?
If this bearish divergence is confirmed, XRP could fall below $2, which would represent a 23% drop from its current price. ๐๐ฅ In addition, the altcoin has already formed a new low at $1.78, suggesting that new liquidity zones will be created. ๐๐ฐ
๐ก Will XRP invalidate its bearish thesis?
In technical analysis, every pattern has an invalidation point. ๐ If XRP manages to stay above $2.90 on the daily chart, this bearish divergence could be ruled out. ๐๐
What do you think? Will XRP continue to fall or will we see a recovery? ๐๐