Crypto Blog
Ripple has recently surged to the critical resistance level of $0.65 following a successful pullback to the broken 200-day moving average.
A detailed examination of the daily chart reveals that Ripple has experienced a bullish surge after successfully pulling back to the broken 200-day moving average at $0.55. This price action underscores buyers’ dominance in the market, propelling the XRP price to a critical resistance region around $0.63—a level that has previously rejected the cryptocurrency multiple times.
Given the bearish divergence between the price and the RSI indicator, a rejection at the $0.63 level is anticipated, potentially leading to a decline toward the lower boundary of the range at $0.55.On the 4-hour chart, XRP surged from the critical region between the 0.5 and 0.618 Fibonacci retracement levels, entering a crucial price range defined by the $0.55 support and the multi-month resistance zone at $0.63.
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