XRP Struggles to Initiate an Uptrend After More Than Three Years, but Shows Signs of Recovery

XRP has struggled to start any upward movement for over three years, but this changed in November 2024 when the price began a parabolic rally, resulting in a 500% increase and reaching a new annual high on January 16. While XRP has faced difficulty since its peak, it seems to be regaining ground this week and making another attempt to break through. Let’s examine the price action and what could be next.

XRP Faces Pressure After Annual High

On January 11, XRP broke out of a symmetrical triangle pattern and reached a new annual high just five days later. XRP dropped slightly after reaching the peak, and although it has regained some ground, it has not fully recovered from the losses incurred by the rejection.

An important bearish development is the bearish divergence (green) in the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD).

This double divergence is rare and often marks the peak of a bullish cycle.

XRP Price Cycle Reaches Its High

XRP has experienced an impressive rally since November 2024. However, several signs indicate that the upward movement may be nearing its end, and XRP could soon enter a bearish trend.

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