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XRP price struggles with 50-day EMA; does a bullish breakout follow?

 


The XRP price is currently at a golden ratio resistance crossing the 50-day EMA. Can Ripple break out bullishly?


The XRP price is currently struggling with the 50-day EMA

The XRP price is currently struggling with the 50-day EMA at around USD 0.367, where there is also golden ratio resistance. If Ripple breaks this resistance, it could surge to the next golden ratio around $0.4. However, if XRP is now rejected in a bearish manner, Ripple will find the next significant Fibonacci supports around USD 0.344 and USD 0.326.


In the daily chart, however, the Ripple price is very bullish, because the histogram of the MACDs is gradually ticking bullishly higher and the MACD lines are bullishly crossed, while the RSI is neutral.


In the last two weeks, the Ripple price has already risen by around 22%

The Ripple price has already risen by around 22% in the last two weeks and it currently looks as if the support could hold at around USD 0.3. Then the bottom at $0.287 might actually mark the bottom. After all, the histogram of the MACDs has also been ticking bullishly higher for a few weeks and the MACD lines are now about to cross over bullishly.


The XRP price finds the next significant Fibonacci resistances at around USD 0.53 and USD 0.68, provided that the Ripple price can bullishly break the golden ratio at around USD 0.4.


XRP price could rise to USD 0.93 in the medium term

If the support between $0.245 and $0.3 is successfully held, the medium-term price target is around $0.93. There the XRP course hits the 0.382 Fib level. A little higher, at around USD 1.35, significant resistance at the golden ratio then awaits Ripple.


However, the trend remains bearish unless Ripple bullishly breaks the golden ratio around $2.1. Because Ripple has been in a bear trend since 2018.


In addition, the histogram of the MACDs in the monthly chart is still ticking bearishly lower and the MACD lines are also crossed bearishly, while the RSI is neutral.


Against BTC, the XRP course was bearishly rejected at Golden Ratio resistance

The MACD in the monthly chart is much more bullish against BTC, because the MACD lines are bullishly crossed there and the histogram has been ticking bullishly higher since last month. The RSI is also neutral here.


Last month, Ripple price was bearishly rejected at the golden ratio around 0.000018 BTC, which needs to be broken if XRP wants to rally to the 0.382 Fib level around 0.0000226 BTC. Without breaking the 0.382 Fib level at around 0.0000226 BTC, Ripple cannot bullishly break out of the symmetrical triangle. The next resistance then waits between the 50-month EMA at around 0.0000276 BTC and the golden ratio at around 0.000029 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

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