XRP’s price recently neared the $1 level after a brief relief rally to $1.18, but sellers have regained control, driving the token downward for four consecutive days without a bounce. The key support at $1 is now being tested again, with the overall trend remaining bearish. Buyers vanished after the rally, and declining trading volume suggests a lack of conviction. The daily Relative Strength Index (RSI) twice failed to sustain above 50, reversing each time, which is interpreted as bearish. Although the RSI itself is forming higher lows and higher highs, the price has not followed suit, leaving a bullish divergence unconfirmed.
Sellers have returned to control XRP’s market after a short relief rally pushed the price to $1.18. Over the past four days, the token has fallen steadily without any bounce and now appears ready to test the key support level at $1 again.
In late June, the price hovered just above $1 for several days before buyers managed to push XRP higher. Analysts note this could turn out to be a dead cat bounce before new lows, as the overall trend remains bearish.
Buyer interest collapsed as soon as the price touched $1.18 last Sunday. The only positive signal is falling volume, which indicates a lack of conviction among sellers and suggests buyers may be waiting for an opportunity to return.
The daily RSI made two attempts this summer to move beyond the 50 midpoint. Each time the price reversed fully, erasing any hope of a sustained rally. The RSI is making higher lows and higher highs, but unless the price does the same, this remains an unconfirmed bullish divergence.
