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XRP is trying to bounce back again. After sliding through much of August, the token managed a 2% rebound in the last 24 hours. The green candles may look comforting on the screen, but the larger picture tells a more complicated story where the risks still outweigh the relief.
According to an analyst, XRP is facing a problem: a bearish divergence that has been building for weeks. In simple terms, price has been climbing while momentum quietly faded in the background. The last time XRP faced a divergence of this size was at the turn of 2020 into 2021. Back then, the pattern was not just a warning. It preceded a painful 60 percent correction stretched across several months.
Today, the pullback is only about 20 to 25 percent from the highs. That leaves experts asking the uncomfortable question: is this correction just getting started?
XRP lost its footing above $2.85, a level that once acted as support but now hangs over the price as resistance. The next battle zone lies at $2.75. If that floor gives way with convincing daily closes, the market could easily test deeper waters between $2.55 and $2.62.
The structure does little to inspire confidence. Price action has been compressing into a descending triangle, a formation that more often than not ends with a breakdown. Should that play out, chart projections point towards the $2.17 region, a level that would mean another 20 percent slide from here.
XRP has shown it can bounce, but the chart shows the token is not yet out of danger. A convincing move back above $2.85 would help repair sentiment and challenge the bearish setup. If the price falters at $2.75, the sellers may quickly regain control.
This bounce looks less like a sign of recovery and more like a test of resilience. The next few weeks will decide whether XRP can rewrite its script or whether the market is simply pausing before another act of decline.
