$XRP continues to trade near a major support area while showing early signs of stabilization. Although the broader trend remains under pressure, recent price action and momentum indicators suggest that sellers may be losing control, raising the possibility of a stronger recovery in the coming sessions.
Ripple Price Analysis: The Daily Chart
On the daily timeframe, $XRP is consolidating above the key support zone between $1.05 and $1.15 after finding demand near the lower boundary of its descending channel.
However, the most notable recent development is the bullish divergence between the price and the RSI. While $XRP revisited the $1.05 support area, the RSI formed a higher low, indicating that downside momentum has weakened despite the price remaining near its lows. This type of divergence often appears near important turning points and suggests that selling pressure may be fading.
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