The XRP Price Faces Bearish Rejection at Golden Ratio Resistance
The XRP price recently rallied but faced a sharp and bearish rejection at the golden ratio resistance level around $0.75. As a result, the corrective movement in the XRP price is ongoing. Currently, Ripple is encountering significant Fibonacci support.
Will XRP Rebound to 50-Month EMA Support?
Ripple struggled to break through the golden ratio resistance at $0.75, indicating a potential bearish trend. However, the MACD histogram on the monthly chart continues to trend higher, and the MACD lines remain crossed in a bullish manner. The RSI is currently neutral.
Weekly MACD Histogram Decline: Signs of Bearish Shift for XRP
In the weekly chart, the MACD histogram has been declining in a bearish manner, potentially leading to a bearish crossover of the MACD lines. The RSI is hovering in neutral territory. However, the EMAs still maintain a golden crossover, suggesting a medium-term bullish trend.
XRP Price Update: Recent Rebound from $0.572
Ripple recently experienced a bullish bounce from the 0.382 Fibonacci support level at $0.572. However, it appears that Ripple is now resuming its correction. Traders should monitor key support levels to assess Ripple’s short to medium-term movement.
Potential Death Cross in XRP’s 4H Chart: Forecasting the Price Drop
In the 4-hour chart, there’s a potential for a death cross formation, indicating a short-term bearish trend. The MACD lines have already crossed bearishly, and the RSI is nearing overbought territory. Traders should closely monitor these indicators and price levels.
Ripple at Golden Ratio Support Against Bitcoin
Ripple has returned to the golden ratio support level against Bitcoin at 0.0000155 BTC. It has been trading within a range bounded by the golden ratio resistance and support for the past 15 months. Traders should watch critical levels and technical indicators to gauge Ripple’s price against Bitcoin.
Hot Take: XRP’s Correction to $0.46 Golden Ratio Suggests Downside Risk
XRP’s correction to the $0.46 golden ratio support level suggests a 25% downside risk. Traders and investors should closely monitor the price action and key support levels to assess Ripple’s bullish momentum or potential further correction.
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