XRP (XRP) price fell 22% between March 19 and March 31, potentially forming a local bottom at $2.02. The price then increased by 9% to $2.20 before retracing to the current levels.
Has the popular altcoin finally bottomed out, or is there a deeper retracement in the cards?
XRP bullish divergence on multiple timeframes
The XRP relative strength index (RSI) displays bullish divergence conditions in lower timeframes, according to popular analyst CasiTrades.
A bullish divergence is when the asset’s price prints lower lows, whereas the RSI produces higher lows, indicating that downward momentum is waning.
“After reaching the 0.786 retrace at $2.05, XRP is printing bullish divergences from the 15-min all the way up to the 4-hour chart,” the analyst said in a March 31 post on X.
CasiTrades notes that these signals are a positive indicator both for