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XRP Price Prediction For July 24
Ripple’s XRP is currently exhibiting signs of weakness following its recent rally, and technical indicators are signaling a deeper pullback may be in the making. Despite remaining above crucial support levels, chart patterns and broader market conditions are flashing early warning signs.
A bearish divergence is emerging on the weekly timeframe. While XRP’s price has made higher highs, the Relative Strength Index (RSI) is printing lower highs. This phenomenon often serves as a precursor to slowing momentum. Although this signal hasn’t been confirmed yet, if it does in the coming weeks or months, XRP may face a more substantial correction.
According to analyst Josh of Crypto World, support lies around the $3.00 mark, while the next major resistance is expected between $4.60 and $4.70. These zones are based on Fibonacci levels, commonly used to forecast where prices could reverse.
On the daily chart, XRP is struggling to maintain the $3.30-$3.40 range, which previously acted as strong support. If the price closes below $3.30 and fails to recover, this would confirm a bearish shift in the short-term trend. In that scenario, XRP may drop toward $3.00 or even $2.95. The 38.2% Fibonacci retracement level around $2.95 is a critical support area during market corrections. If this level holds, XRP could bounce back. However, if the price drops below $2.75 and then $2.65, a retest of April’s lows becomes possible.
The broader market impact should also be considered. Ethereum is facing resistance and showing short-term bearish divergence, while Bitcoin struggles to break higher. A rise in Bitcoin dominance often serves as a bearish signal for altcoins like XRP. This overall pressure is affecting XRP’s outlook in the near term.
For now, XRP needs to maintain its position above $2.75 to keep hopes of continued growth alive. If it manages to reclaim $3.36, the correction might be over.
Source: coinpedia.org
