XRP Price Drops Below Moving Average Lines
The Ripple coin (XRP) price has fallen below the moving average lines, indicating a bearish trend. The decline seems to have reached bearish exhaustion, with a potential reversal at the 1.272 Fibonacci extension or $0.5605. Despite reaching a low of $0.5623, XRP is now on the rise as it approaches the moving average lines. The coinβs uptrend is expected to continue if it surpasses the moving average lines or the $0.64 level.
- XRP may rise to $0.74 in the bullish scenario
- If the bullish trend fails, XRP will fluctuate between $0.56 support and the moving average lines
- The current value of XRP stands at $0.60
Indicator Analysis for XRP
XRPβs price bars are currently below the moving average lines, aligning with the projected price level. The coin is undergoing a corrective phase near the moving average lines, indicating a potential range-bound movement. On the 4-hour chart, XRP has shown upward correction but remains within the moving average lines, suggesting a consolidation phase.
Key Technical Levels for XRP:
- Resistance levels: $0.80 and $1.00
- Support levels: $0.40 and $0.20
Future Outlook for XRP
Following the recent dip, XRP is experiencing an upward correction. As per the 4-hour chart, the price of XRP has surpassed the moving average lines, signaling a potential continuation of the uptrend. However, the coin faces immediate resistance at $0.60, which could determine its next direction.
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