XRP Price News: Analyst Warns of 60% Crash

$XRP has recently shown some strong short-term moves. A crypto analyst has warned that despite a few temporary price bounces, $XRP may still be facing a larger bearish trend in the weeks ahead.

On the weekly chart, $XRP is now confirming a “bearish divergence,” which is when the price forms higher highs but the Relative Strength Index (RSI) shows lower highs. This kind of setup is often seen as a sign of weakening momentum, and it last happened for $XRP back in late 2020 and early 2021. At that time, the result was a drop in price that lasted nearly three months, with $XRP falling over 60%.

Short-Term Pops, But Long-Term Pressure

The analyst explained that while we might still see some short-term upward moves, these are likely just temporary bounces within a larger downward trend. He warned investors not to get carried away by small rallies, saying the overall price structure still looks bearish on both the weekly and daily charts.

Interestingly, $XRP’s current price movement is looking very similar to what we saw earlier this year in January, right before another pullback happened. This pattern shows that unless something big changes in the market, $XRP could be in for a repeat of that earlier drop.

Important Levels to Watch

As for support levels, $XRP is now testing a key zone between $2.90 and $3. There’s also been some support around $2.75, and if the price drops further, the next major area to watch will be between $2.55 and $2.62. These levels were strong resistance in the past and could now act as support.

On the upside, resistance is expected around $3.10 to $3.20, which is where $XRP was recently rejected. If $XRP breaks above that range, the next big resistance will be around $3.40.

In short, while $XRP may continue to see price bumps here and there, the overall trend still looks bearish unless key resistance levels are broken.