Ripple XRP Chart (daily)
Investing.com – The long red candle body at the beginning of the week continues to leave a bland aftertaste on the Ripple chart. Although the XRP bulls started a rally attempt on Friday, it was sold off again quickly and violently. So the chart remains, but it holds across all medium to long-term smoothing lines observed by us. The chance of further increases in prices is therefore still there. This applies as long as the XRP price is trading above the support zone at 1.02 (50-day line) and 0.98 (correction low). On the other hand, if the support falls, the speed could decrease. In any case, there is also potential for disappointment and room for sales.
In the event of a negative price development, the holding levels relevant to the bottom would be at 0.91 to 0.86 dollars (100 and 200-day lines). It would be really critical if the Ripple price were to give up the support at $ 0.76.
The technical indicators in the form of the MACD and the RSI are currently positioned rather “short”. The trend follower is about to slide below its zero line, which would generate a solid sell signal, while the RSI is trading below its important 50-point mark with no discernible momentum.
For Ripple bulls, however, it would be an encouraging course if the price managed to regain the $ 1.10 mark, followed by price stabilization in the form of a consolidation above this hurdle for several days.
The reward for the effort would be to maintain the overarching bullish chart image, so that the massive resistance zone consisting of various highs and the 61.8% Fibonacci retracement from April 2021 at 1.26 to 1.40 dollars would move back into striking distance.
Note: This article does not constitute investment advice or a solicitation to buy or sell any asset. Nor does it purport to predict the development of the XRP price. It is merely a subsequent comment on the XRP development, the Ripple investors about the latest crypto news and the technical starting position of the should inform.
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