TLDR
- XRP price is trading at $2.21, showing resilience after bouncing from sub-$2 lows earlier in the year.
- The token saw a 0.88% daily gain, with repeated small rallies and pullbacks forming a stable intraday range.
- Despite a 10.22% decline in trading volume to $3.4B, market cap rose 1% to $133.49B.
- Analysts note an RSI higher-low divergence, similar to the pattern seen during the 2022 market bottom.
- The RSI’s upward slope at 45.86 alongside the price near the trendline support suggests building bullish momentum.
The XRP token has held strong in its zone around $2.2 after a brief recovery from its lows last seen in June this year. In that month, the XRP price recorded an uptick that unlocked $3.5 as the new price level. However, bears took over, sending the digital asset below $2. However, market analysts have hinted at a change as the asset eyes an uptick after the 2022 bear bottom market has resurfaced again.
XRP Price Gains 0.88% as Intraday Uptrend Builds
According to CoinMarketCap data at the time of press, XRP price trades at $2.21 after recording a 0.88% gain within the day, as the price chart shows consistent intraday movement marked by repeated rises and pullbacks. A deeper analysis reveals that the XRP price moved through small waves of upward momentum during the day before shifting into a period of softer action that narrows the trading range.
Mid-session fluctuations keep the XRP price confined within a stable band, reflecting market participation despite a 10.22% drop in daily volume to $3.4B. Market cap now reads at $133.49B with a 1% increase, showing a higher overall valuation during the period. Towards the end of the session at the time of writing, the XRP price then moves into a late-session climb that retraces earlier dips and returns the market toward the upper level of the day’s range without forming a clear directional breakout.
XRP Price Forms RSI Divergence Matching 2022 Pattern
As XRP price recovery continues to shape the next price action, market analysts have noted a familiar formation. According to an observation by Steph is Crypto, the RSI chart rises from its recent lows and creates a higher-low pattern that contrasts with the XRP price movement. This forms the same bullish divergence that was last seen in 2022, where the RSI climbed while the price printed lower lows during the bear market bottom.
In the current setup, the XRP price now moves upward from the trendline base and forms a stronger candle than previous reactions within the decline. The RSI currently reads 45.86 and shows a sharper upward slope than the price action. The divergence appears clearly across several sessions and mirrors the structure displayed earlier. The price chart shows momentum increasing while price remains near the lower boundary of the trendline, creating the same divergence setup that occurred during the earlier market phase.
The post XRP Price Steadies Near $2.21 as RSI Divergence Echoes 2022 Bottom Pattern: Is a Bullish Rally Ahead? appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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