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▲ XRP/AI Generated Image
As XRP barely holds above the $1 defense line, a bullish divergence indicating a slowdown in selling pressure has been detected, leading to a direct clash between the possibility of a short-term rebound and the risk of further collapse.
According to crypto media outlet CryptoPotato on July 2 (local time), both XRP/USDT and XRP/BTC are trapped in a narrow range, and the overall trend remains dominated by sellers. However, recent technical signals indicate that downward pressure is weakening. The defense of key support levels and the emergence of an early bullish divergence have become variables for the short-term trend.
In the USDT pair, XRP remains within a clear descending channel. The price is trading below the 100-day and 200-day moving averages, suggesting that the higher time frame structure is still bearish. However, XRP is holding the $1.08 support area, which coincides with a major horizontal demand zone.
After the sharp drop in June, sellers failed to extend the decline further, and XRP is forming a short-term bottom above the support line. The Relative Strength Index (RSI) formed a clear bullish divergence by making higher lows while the price made lower lows. This signal indicates a slowdown in bearish momentum and increases the possibility of a relief rally if buyers reclaim higher price levels.
The first resistance is the $1.15 supply zone. A stronger resistance lies near $1.25, where the 100-day moving average is located. If XRP recovers this zone, the overall outlook could improve, but losing the $1 support could push it down to $0.80, the bottom of the descending channel.
In XRP/BTC, XRP is also moving within a long-term descending channel. It remains below the major moving averages, so the relative bearish trend has not yet changed. However, XRP briefly dropped below the key low of 1,700 satoshis recently before quickly recovering, creating a false breakout.
The immediate resistance for the Bitcoin pair is 1,850 satoshis, and a stronger supply zone is near 2,000 satoshis. At this price level, horizontal resistance coincides with the declining 200-day moving average. If XRP holds above 1,700 satoshis, the false breakout scenario remains valid, but if the daily close is confirmed below this price, the possibility of a further decline to the 1,500 satoshi support level increases.
[Article Summary]
-Both XRP/USDT and XRP/BTC remain within descending channels, maintaining a seller-dominated trend.
-XRP/USDT's defense of the $1.08 support and the bullish divergence in the Relative Strength Index are increasing the possibility of a short-term rebound.
-If the $1 and 1,700 satoshi support lines break, XRP could fall to $0.80 and 1,500 satoshis, respectively.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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