|

Ripple Technical Analysis: XRP/USD finally sees some bullish action after a 1.4% increase in price outperforming the market

  • XRP/USD has been one of the weakest pairs in the crypto market for the past year.
  • XRP bulls are eying up $0.18 after a decent price increase while the rest of the market remains flat.

In general, XRP’s outlook remains negative, however, the recent bull move could be the beginning of a reversal on the daily chart. XRP is changing hands at $0.177 and opened at $0.1748.

XRP/USD daily chart

xrpusd

At this point in time, it seems that XRP has established a higher low at $0.1729. Buyers are still facing the 12-EMA resistance level established at $0.18 followed by the 26-EMA at $0.186. The current downtrend will only be reversed after both EMA resistances are broken.

XRP/USD 4-hour chart

XRPUSD

Zooming in we can see XRP’s recent bull move as a healthy move, unfortunate, the digital asset got rejected from a significant resistance area at $0.1783 and above towards $0.18. This factor indicates a lack of long-term strength for the bulls which have pushed XRP above both EMAs.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Ripple technical weakness persists as selling intensifies toward $1.00

Ripple grinds lower, trading around $1.10 at the time of writing on Wednesday. The sticky bearish outlook mirrors the broader crypto market, with major coins such as Bitcoin and Ethereum facing weak demand as investors de-risk.

Crypto Today: Bitcoin, Ethereum, XRP face downside pressure amid investor de-risking

Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments. Bitcoin has slipped toward $61,000 after its recent rebound was sold near $64,000, leaving buyers exhausted.

Bitcoin Price Forecast: Sticky inflation fears threaten deeper sell-off in BTC

Bitcoin extends its decline on Wednesday, trading below $61,500 at the time of writing as renewed US-Iran tensions keep the risk sentiment capped. In addition, persistent capital outflows from US-listed spot Exchange Traded Funds continue to fuel selling pressure on BTC.

Pi Network extends decline as CEX outflows fail to offset bearish pressure

Pi Network edges lower on Wednesday, extending its third consecutive day of losses. The technical outlook for PI is largely bearish, with a risk of a steeper correction below $0.1184.

Bitcoin: After the bloodbath, everyone looks at $60,000
Bitcoin (BTC) hovers above $62,000 at the time of writing on Friday, weighed down by growing risk-off sentiment due to persistent geopolitical tensions in the Middle East and sticky macroeconomic uncertainty. The institutional sell-off continued to wreak havoc on capital flows, with spot Bitcoin Exchange-Traded Funds (ETFs) recording billions in outflows.