Ripple Rebounds: XRP Price Hits Critical Turning Point – What’s Next?

XRP/USD Price Chart. Source: Tradingview

In summary, while the recent bounce from support is promising, Ripple’s price action in the near term will be crucial in determining whether it can sustain its upward momentum and resume its bullish trajectory.

Bearish Signals on Weekly MACD Chart

In the weekly chart for Ripple, we observe that the MACD lines have recently crossed bearishly, and the MACD histogram has been declining in a bearish manner for several weeks. Meanwhile, the RSI is currently situated in neutral territory.

Ripple is encountering notable Fibonacci resistance levels around $0.545 and $0.62. A breakthrough above the golden ratio resistance at $0.62 would signal Ripple’s end of the corrective phase, potentially reinstating an uptrend. Ripple could aim for further resistance around $0.75 in such a scenario.

XRP/USD Price Chart. Source: Tradingview

However, the corrective movement may persist until these resistance levels are convincingly breached. Traders and investors will likely monitor Ripple’s price action closely to assess whether it can overcome these hurdles and resume its upward trajectory.

Death Cross Emerging in Ripple’s Daily Chart Analysis

In Ripple’s daily chart, there’s a potential death cross formation in the EMAs, signaling a bearish trend in the short to medium term. However, if the current upward momentum continues, it could invalidate the death cross and potentially lead to a golden crossover instead.

Nevertheless, a bearish rejection at the current Fibonacci resistance around $0.545 could indicate further downside.

Looking at the MACD, the histogram has been trending higher for a few days, and the MACD lines are close to a bullish crossover, suggesting a possible shift toward bullish momentum. Meanwhile, the RSI remains neutral, lacking clear signals of bullish or bearish sentiment.

XRP/USD Price Chart. Source: Tradingview

Traders may closely monitor price action around the resistance level for potential confirmation of further bullish or bearish movement in Ripple’s price.

Death Cross Confirmed in Ripple’s 4-Hour EMA Chart

In Ripple’s 4-hour chart, a death cross has indeed formed in the EMAs, indicating a bearish trend in the short term. However, it’s worth noting that the MACD is showing bullish developments.

The MACD lines are currently crossed in a bullish manner, and the MACD histogram is trending higher in a bullish manner as well.

XRP/USD Price Chart. Source: Tradingview

Despite these bullish indications in the MACD, the RSI remains neutral, lacking clear signals of either bullish or bearish sentiment. Traders may need to closely monitor price action for further confirmation of the prevailing trend in Ripple’s price.

Continued Decline for XRP Price Against Bitcoin Observed

Ripple’s price has indeed been experiencing a clear downward trend against Bitcoin. The key support zone for XRP against BTC is around 0.0000062 BTC.

Additionally, there are some positive signs in the technical indicators. The MACD histogram shows bullish momentum as it ticks higher, and there’s a possibility of a bullish crossover in the MACD lines. Moreover, the RSI is currently in oversold territory and indicates a bullish divergence, suggesting a potential reversal in the downward trend.