Ripple Price is Going to Zero as $1 Billion Trading Volume Sends XRP Plummeting 2% While AI Crypto Signals Platform yPredict Rockets Past $2.5 Million – How to Get In Early?
XRP's price has been consolidating above the key psychological level of $0.50 for more than two weeks, coinciding with the Fib 0.382 level at $0.5031. On June 14, XRP broke down from this level, sparking concerns about a potential trend reversal.
Despite finding initial support from the 100-day EMA and the Fib 0.5 level at $0.4779, traders and investors are now keeping a close watch on the technical indicators for any hints of XRP's next move.
The 20-day EMA, currently sitting at $0.4957, and the 50-day EMA at $0.4863, are acting as immediate resistance levels for XRP.
Further resistance lies at the previously mentioned Fib 0.382 level at $0.5031. A breakout above these resistance levels could signal a bullish continuation.
However, the RSI has dropped to 46.10 from yesterday's 49.42, indicating a potential rejection at the significant RSI 50 level, which could be a bearish signal.
The MACD histogram has slightly improved to -0.0054 from yesterday's -0.0056, but it still remains in negative territory.
This suggests that bearish momentum might not have subsided entirely, leaving traders cautious about the immediate future.
According to CoinMarketCap, Ripple's market cap has decreased by 2.02% to $25 billion, while the trading volume has increased by 18.12% to $1 billion for the past 24 hours.
This increase in volume could be a sign that traders are actively participating in the market, attempting to find a clear direction for XRP.
As of writing, XRP is trading at $0.4830, down by 2.15% so far today. In the immediate future, XRP will encounter support at the Fib 0.5 level at $0.4779, followed by the 100-day EMA.
If XRP fails to hold these support levels, it could face further downside pressure. Conversely, a break above the
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