Ripple (XRP) Technical Analysis
Ripple (XRP) retreated from the $0.504 support level (September 6 low), testing the 50% Fibonacci retracement level.
Indicators show a bullish bias despite the price being below the 100-period simple moving average. The Awesome Oscillator histogram is green and approaching the signal line from below. Meanwhile, the Stochastic and RSI (14) values are rising, recording 51 and 50, respectively.
Immediate resistance is at the 50% Fibonacci retracement level ($0.524). If XRP/USD closes and stabilizes above $0.524, the bullish wave from $0.487 could resume. In this scenario, the next target for buyers might be the 38.2% Fibonacci retracement level at $0.557.
Conversely, a bearish trend may be triggered if sellers push XRP below the immediate support at $0.504. If this happens, the price could revisit the October 25 low of $0.487.
Indicators show a bullish bias despite the price being below the 100-period simple moving average. The Awesome Oscillator histogram is green and approaching the signal line from below. Meanwhile, the Stochastic and RSI (14) values are rising, recording 51 and 50, respectively.
Immediate resistance is at the 50% Fibonacci retracement level ($0.524). If XRP/USD closes and stabilizes above $0.524, the bullish wave from $0.487 could resume. In this scenario, the next target for buyers might be the 38.2% Fibonacci retracement level at $0.557.
Conversely, a bearish trend may be triggered if sellers push XRP below the immediate support at $0.504. If this happens, the price could revisit the October 25 low of $0.487.
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