The price of XRP, the cryptocurrency linked to Ripple, is down more than 6% over the past 24 hours, according to data provided by CoinGecko.
However, according to the 100eyes Crypto Scanner, the XRP/USDT pair has formed a bullish divergence on an hourly chart.
This suggests that XRP bulls may soon see a relief bounce.
A bullish divergence tends to occur when the Relative Strength Index (RSI) is rising despite a fall in price.
This shows that the current bearish trend is gradually weakening.
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Of course, this bullish divergence should be taken with a grain of salt as it needs to be analyzed along with other key technical indicators.
For now, XRP is the worst performing token in the top 10 after Thursday's 6% price drop.
Some other major tokens are also in the red, with Cardano (ADA) and Dogecoin (DOGE) sliding 5.9% and 5.7%, respectively.
Bitcoin, the leading digital currency by market capitalization, has now fallen more than 3% after approaching the massive $100,000 level on Christmas.
Recently, XRP experienced a short-term rally following the official launch of Ripple's RLUSD stablecoin. However, this was not enough to reverse the XRP trend.
The indicator is still 36.3% from recovering the highest level achieved in early 2018. It came close to reaching a new high in early December but fell short.
However, there are some supporting catalysts that could revive the XRP rally in 2025. These catalysts include the SEC's new crypto relationship and the rise of the XRP ETF.
Source: https://u.today/theres-silver-lining-for-xrp-bulls-following-6-plunge
