XRP Price Falls Below $2 – Can Investors Rework This Into 13% Rally?
XRP dropped below $2 after failing a bullish breakout, but a bullish divergence on the CMF indicator suggests potential accumulation despite falling prices.Summary
XRP has extended its decline, falling below $2.00 after failing to sustain a breakout from a descending structure, which invalidated a projected bullish continuation.
Despite the price weakness, technical indicators show a potential for reversal: the Chaikin Money Flow (CMF) indicator is forming a bullish divergence, indicating increasing accumulation as prices set lower lows. However, network growth indicators signal concern, as new address creation has hit a 13-month low, suggesting skepticism among new investors and limiting upside catalysts.
For a recovery, XRP must reclaim and close above $2.00 to invalidate the current bearish bias; failure to do so could lead to a drop toward $1.86, while a confirmed breakout could target $2.25.
(Source：BeInCrypto)