The January rally in XRP's price may be reaching a point of exhaustion, as technical indicators suggest a potential correction of up to 25%. A bearish divergence between XRP's price and its daily Relative Strength Index (RSI) indicates weakening upward momentum, which could lead to a reversal in the coming days or weeks. XRP's price is currently significantly above its 50-day exponential moving average, a key technical support level, and historically overextended price rallies tend to revisit their EMA levels. However, XRP's long-term outlook remains optimistic, supported by the potential launch of spot XRP exchange-traded funds (ETF) in the US.
All Comments