The disappointing technical rejection of the XRP experience can just be postponed or even stop its course towards the outbreak of $ 3. EMA for 26 days is a critical level of resistance now has now strengthened the short -term control, and despite the recent sessions “The Upper Egypt indicators batchThe original was unable to break above it.
XRP is currently trading at about $ 2.36. It has tried to rise above the descending trend line that crowned its movement since January, but the short -term downward preparation was created by rejection near the level of $ 2.42, which coincides with 26 EMA. This failure is especially harmful because XRP is still less than EMA for 50 days, indicating that there was no certain reflection and that the investor’s confidence in the direction of a long -term rise is diminished.
Unfortunately, the trading volume was low during the penetration attempt, indicating that there is no activity in the market to support a significant rise. The bulls find it difficult to maintain upward movements as a result of this lack of condemnation, which also increases the declining pressure.
XRP is currently trapped in a narrowing range, as it appears from the chart between horizontal support and a condolence resistance about $ 2.20 -2.30 dollars. The area that may be the last line of defense before a sharp decrease in the moving average for 200 days (about $ 1.93) is the next reasonable goal if this support is broken.
Related
The RSI, which is placed near 50, indicates the market to the market but it tends to decline slightly due to the failure in the important Emas and the decline in size. Although XRP is still technically traded within the largest descending triangle, the 3 -dollar scenario has become less and less likely in the near future due to the inability to benefit from upward settings and break the levels of dynamic resistance.
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Now the bulls need to reorganize to protect the level of $ 2.20 and stick to the payment again so that there is more size and momentum. As of the present time, the XRP recovery path has become more difficult, as the worst scenario occurred in cases.
