XRP Price Flat Amid Weakening Technical Signals and Geopolitical Tension
XRP's price has been relatively flat over the past day, trading at $1.41 as of now.
This marks a 2.9% increase from last week, but experts are cautious about the token's prospects due to weakening technical signals and rising geopolitical tension.
A failed breakout attempt earlier in the week saw XRP rally towards $1.45 before slipping back below its key resistance level of $1.41.
This kind of fakeout is often read as a bearish signal, indicating that XRP may struggle to gain momentum.
When looking at XRP's performance relative to Bitcoin, the picture looks even more concerning, with XRP dipping below its recent trading range and struggling to recover.
Market positioning data shows a slight bias towards bearish order flow, with new short bets building up since September 18.