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Mastering Crypto

08/12 13:47

XRP price analysis

XRP turned down from the 20-day EMA ($0.65) on Aug. 9, indicating that the bears are trying to flip the level into resistance.

The important support to watch on the downside is the 50-day SMA ($0.61). If this level cracks, the selling could intensify and the XRP/USDT pair could plummet to the breakout level of $0.56.

Another possibility is that the price bounces off the 50-day SMA. If that happens, the pair may spend some more time oscillating between the moving averages. A break and close above $0.67 will be the first sign of strength. That could open the doors for a possible rally to $0.73.1691848120026.png

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