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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 in favor of sellers. However, recent technical signals indicate that downward pressure is weakening. The defense of key support levels, along with the emergence of an initial bullish divergence, has become a variable 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, indicating that the higher timeframe structure is still bearish. However, XRP is maintaining the $1.08 support zone, which coincides with a major horizontal demand area.
Following the sharp decline in June, sellers have failed to extend further losses, and XRP is forming a short-term bottom above the support level. The Relative Strength Index (RSI) has formed a clear bullish divergence, 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 level is the $1.15 supply zone. A stronger resistance level is around $1.25, where the 100-day moving average is located. If XRP reclaims 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. Remaining below key moving averages, the relative bearish trend has not yet changed. However, XRP briefly dipped below its recent key low of 1,700 satoshis before quickly recovering, creating a fakeout.
The immediate resistance for the Bitcoin pair is 1,850 satoshis, with a stronger supply zone around 2,000 satoshis. At this price level, horizontal resistance and the declining 200-day moving average converge. If XRP holds above 1,700 satoshis, the fakeout scenario remains valid, but if the daily close is confirmed below that price, the possibility of further decline to the 1,500 satoshi support level increases.
[Article Key Summary]
-Both XRP/USDT and XRP/BTC remain within descending channels, continuing a seller-dominated trend.
-XRP/USDT's defense of the $1.08 support level 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 levels are broken, 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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