Multi-timeframe analysis of XRP: Here is what will happen next

XRP has once again become the center of attention as its price action shows signs of weakness across multiple time frames. After a relatively stable short-term period, the recent drop on the daily chart and intraday indicates a shift in market momentum that traders cannot overlook. As bearish pressure increases and key support levels begin to weaken, XRP's next move has become the main topic - will it soon find its footing or will there be a deeper correction in the future? The important bullish divergence of XRP In update X, the famous cryptocurrency analyst Gowanus Monster highlighted an important technical development for XRP. According to his analysis, this token has completed a falling wedge pattern across multiple timeframes, a classic pattern that often signals a continued fall. Based on the measured movement from this structure, the expected target is around $1.90, indicating a significant retracement potential if the bearish momentum continues to increase. Zooming out the weekly chart, the pattern is beginning to develop into a clearly defined structure, with clear upper and lower boundaries. Gowanus Monster notes that the current focus is on identifying higher lows within this channel.

He also pointed out a main principle: when the price recovers from the upper boundary of a bearish channel and does not reach the lower boundary, instead hitting the bottom early, it often precedes a bullish breakout in an upward direction. This subtle behavior, if confirmed, could set the stage for XRP to challenge the current bearish structure and create a new bullish wave beyond the boundaries of the channel. Bearish trap scenario: When overselling meets support. According to cryptocurrency analyst GemXBT, XRP remains firmly attached to the short-term bearish trend, with the current price action trading below the 5, 10, and 20-period moving averages. The alignment of these moving averages is a classic sign of prolonged bearish momentum, indicating that sellers continue to dominate the market in the near future. Currently, the Relative Strength Index (RSI) has fallen into the oversold region, indicating a potential reversal or a consolidation phase as the market seeks balance. Meanwhile, the MACD line remains below the signal line, suggesting that bearish pressure continues and any potential recovery may face obstacles. In terms of price structure, GemXBT has identified a key support level around $2.15, which may serve as an important level for buyers to enter and defend. On the positive side, the resistance level is near $2.25, an area that buyers need to reclaim to change the short-term sentiment. The recent increase in trading volume is notable, as it could create more volatility in the upcoming trading sessions, or accelerate a breakdown if the support fails, or drive a strong recovery if the sentiment reverses.