Ripple’s XRP is currently down more than 2% and trading below the important $2.40 level. For XRP to maintain its upward momentum, it will need to sustain above the current support levels, especially the $2.29 mark. Keep in mind that XRP, like many major altcoins, often tracks Bitcoin price movements. If Bitcoin experiences a short-term pullback, we may see a similar move in altcoins like XRP.
Is there a possibility of a setback or slight slowdown down the road?
A bearish divergence can signal a pullback, but it does not necessarily lead to a significant drop. In some cases, a slight deceleration may occur, such as the current resistance near $2.50. With XRP approaching a key resistance point and this warning sign flashing, it is not the best time to open new long positions. In fact, it might be a good idea to profit from existing positions for now.
support and resistance levels
The price is also encountering resistance at $2.70 and $2.63. The pivot points are showing further resistance at $2.58 and $2.53, with stalls observed at the 3-10 day moving average crossover and the 80% and 70% raw probability levels.
The price is above the 18-day moving average at $2.41 and represents a 38.2% retracement from the four-week high at $2.41. Additional support lies at $2.40 (first support point) and $2.35 (second support point), with a 50% retracement from the 4-week high/low of $2.31. The 9-day moving average also stalled at $2.33.
Further support levels are $2.27 and $2.19, pushing the price above the 9-day moving average. Deeper support lies at $2.20 and $2.11, with a raw probability level of 20% indicating an oversold condition.
