Ripple XRPUSDT Price Analysis (1d)
Hello dear TradingView community!
XRP's recovery gained momentum on June 17, pushing the price towards the Yellow 20-day EMA ($0.49). However, the long wick on the candlestick suggests persistent resistance from bears.
The XRP/USDT pair currently finds itself in a range-bound phase, with the Yellow 20-day EMA flat and the RSI near the midpoint. This indicates a balance between supply and demand, keeping the price confined between the Black 50-day SMA ($0.48) and the resistance level at $0.54 for the foreseeable future.
The next significant move will likely be triggered if the bulls successfully breach the $0.54 resistance or if the bears push the price below $0.46. Until then, expect continued sideways movement.
Notably, XRP is trading within a Rising Channel, suggesting a potential upward trajectory on larger scale. However, there is a risk of a breakout from the rising support line, emphasizing the need for vigilant monitoring of price actions.
Based on Fibonacci Retracement level 1.618, the target for the price movement within the rising channel is $0.70, aligning closely with the channel's resistance line.
Keep a close eye on XRP's price action as it progresses within this rising channel!
XRP's recovery gained momentum on June 17, pushing the price towards the Yellow 20-day EMA ($0.49). However, the long wick on the candlestick suggests persistent resistance from bears.
The XRP/USDT pair currently finds itself in a range-bound phase, with the Yellow 20-day EMA flat and the RSI near the midpoint. This indicates a balance between supply and demand, keeping the price confined between the Black 50-day SMA ($0.48) and the resistance level at $0.54 for the foreseeable future.
The next significant move will likely be triggered if the bulls successfully breach the $0.54 resistance or if the bears push the price below $0.46. Until then, expect continued sideways movement.
Notably, XRP is trading within a Rising Channel, suggesting a potential upward trajectory on larger scale. However, there is a risk of a breakout from the rising support line, emphasizing the need for vigilant monitoring of price actions.
Based on Fibonacci Retracement level 1.618, the target for the price movement within the rising channel is $0.70, aligning closely with the channel's resistance line.
Keep a close eye on XRP's price action as it progresses within this rising channel!
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