Well, it’s been a rough day for XRP holders. The price took a bit of a hit, dropping about 5% and settling around $2.89. On the surface, it’s just another day in the crypto world—prices jump around all the time. But if you take a step back and look at the bigger picture, things might be a bit more complicated than they seem. It feels like we’re at one of those points that could really set the tone for what happens next.
What the Weekly Charts Are Hinting At
People who watch these charts for a living have been getting a little nervous lately. The weekly view is showing something called a bearish divergence. Basically, the price has been climbing, but the momentum indicator—the RSI—has actually been trending down. That’s not a great sign. It often means the buying pressure is fading, even if the price hasn’t started tumbling yet.
The last time something like this showed up was back in late 2020. And if you remember what came after that… well, it wasn’t a great few months. I’m not saying history is repeating itself exactly, but it’s hard to ignore. It doesn’t necessarily mean a crash is coming tomorrow, but it does suggest we might be in for a deeper correction as we head into the fall.
The Daily Grind and Key Levels to Watch
Zooming in to the daily chart, things have looked a little shaky since XRP fell below that $3.40 mark. Right now, it’s kind of stuck. It’s bouncing around between a few key prices, with buyers and sellers fighting it out.
The immediate support—the floor, if you will—seems to be around $2.90. If it can hold above that, maybe it just churns here for a bit. But if it breaks down below that level, the next stop could be around $2.75. There’s even a deeper support zone near $2.55. On the upside, any rally would face a wall around $3.10 to $3.15, and then again up near $3.40.
A Familiar Feeling From Earlier This Year
This whole situation feels a bit familiar, doesn’t it? It reminds me a lot of what we saw back in the first few months of the year. XRP traded in a tight, sideways range for weeks. There were little pops of hope here and there, but the overall trend just kept grinding lower.
We might be seeing the same movie again. There could be some short-term bounces—there almost always are. But the underlying pressure seems to be pointing down for the time being. It’s not a sure thing, of course. Nothing ever is with this stuff. But it’s probably a good idea to keep an eye on those support levels. If they start breaking, things could get messy.
