XRP Faces Bearish Divergence, with Resistance at $2.60-$2.80. Analysts Predict Sideways Price Action

Despite short-term bullish moves, XRP remains in a downtrend. Key support at $2.24-$2.30 could determine its next price direction.

The price of Ripple’s XRP is currently down by more than 1% and is trading at $2.39. In the 3-day chart, XRP’s price continues to show a larger bearish divergence despite some short-term bullish movement, indicating that the bears still have momentum.

For months, market analysts have been warning that a large bullish move is unlikely in the near future. A large portion of the market is still in a correctional phase, which contributes to the market's inability to generate sustained price action.

Short-Term Bullish Action Amid Larger Bearish Trend

XRP has seen brief bullish movements, with some positive price structure breaking above key levels. According to analyst Josh of Crypto World, these moves have allowed XRP to flip previous resistance into support, giving traders hope for short-term price action. However, the overarching bearish divergence remains, signaling that larger price increases may still be unlikely in the near future.

Key Support and Resistance Levels for XRP

In terms of key support and resistance levels, XRP is currently holding support at $2.24 to $2.30, with another level of support at $1.95 to $2.50. On the flip side, resistance levels are seen at $2.60 to $2.65 and again near $2.80. A significant resistance zone is located at the $3 mark, making it a key level to watch for any possible upward price movement.

Sideways Price Action Likely to Continue

Over the past month, XRP has primarily moved sideways as it cycles through key support and resistance. With the larger bearish divergence still in play, it’s likely that this trend will continue until more definitive market signals emerge. In the immediate term, traders can expect to see XRP’s price bouncing within this range, lacking strong directional momentum.

XRP’s Long-Term Outlook: Waiting for a Breakout

The long-term outlook for XRP remains uncertain, with market analysts suggesting the possibility of a “last hurrah” for bullish action. Some analysts believe that XRP could experience a final euphoric surge before a more significant downtrend, which could be driven by broader market forces.

However, as the market is still in a corrective phase, it may take some time before XRP breaks out of its sideways movement and generates substantial price action.