Ripple's XRP is facing significant hurdles as it attempts a price rally. Despite forming a symmetrical triangle pattern suggesting a potential 27% price increase, prevailing market skepticism could derail these expectations. Bearish bets in the futures market have intensified, leading to negative funding rates which indicate a dominant sentiment betting on XRP's price decline. This bearish outlook is further compounded by the broader market's reluctance to support a rally, with the Relative Strength Index (RSI) struggling to surpass the neutral threshold. These factors collectively contribute to a precarious position for XRP, potentially setting the stage for further price drops rather than the anticipated rally.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
