XRP News Today: XRP Price Turns Bearish After $3.60 High But Hints at Short-Term Recovery

XRP’s price action has turned bearish after reaching a recent high of $3.60, marked by a sell signal on the 3-day chart. The cryptocurrency has since retreated, with the key support level at $2.40 emerging as critical for potential stabilization or a reversal of the downward trend. The TD Sequential indicator confirmed the bearish shift following a 9-count at the peak, indicating trend exhaustion and a shift in control to sellers. This has intensified the bearish narrative in recent sessions [1].

Despite the bearish momentum, early signs of a potential recovery are emerging. The MACD has begun to enter a positive zone, suggesting that a rebound could be forming in the near term. Additionally, resistance is attempting to form above the $3.00 psychological level, offering a potential ceiling for further downward movement. On the one-hour timeframe, the bearish trend has established lower highs and lows, reinforcing short-term bearishness, but the positive movement in the MACD hints at a reversal by buyers [2].

Volume analysis shows a significant peak as prices collapsed into the $2.80 range, indicating strong selling pressure. Since then, XRP has continued its downward trend with lighter volumes, suggesting a possible exhaustion of selling momentum. The ability of the price to hold above $2.90 could serve as a catalyst for re-establishing resistance near the $3.00 level. Traders and analysts are closely watching this threshold as a key indicator for the next potential move [3].

The early bullish momentum observed in technical indicators contrasts with the recent decline in price. While the TD Sequential and 3-day chart signals have driven the bearish turn, the emergence of positive momentum suggests that buyers are starting to regain influence. If XRP can hold above key support levels, it may attract further buying interest, potentially leading to a short-term recovery. However, market participants remain cautious and are waiting for confirmation of a breakout before committing to a long-term correction [4].

Source: [1] XRP Price Action Turns Bearish, but Momentum Hints at Possible Short-Term Recovery (https://coinmarketcap.com/community/articles/688f29b6fdeef146ee24a804/)