In this article, we have compiled for you what could be the next targets in XRP with a golden cross (Golden Cross) on the daily chart. What’s the latest in XRP? What levels can be seen from here?
XRP, which has been trying to catch the $0.38 level for more than three months, has started to come back to support levels.
XRP Technical Analysis
The late-September rulings in the SEC’s lawsuit with Ripple appear to lay the foundation for a solid rally above the restrictions of the EMAs. We can say that the recovery movement following the decisions created an environment for the rise in XRP. Although XRP has fallen by 7.5 percent in the last 24 hours according to CoinGecko data, we can see an upward movement in XRP when we look at its technical analysis.
While XRP has been consolidating in the $0.3-0.38 range for about 3 months, it has announced investor shares amid uncertainties as its ongoing lawsuit with the SEC continues. The recent buying pressure has caused XRP to maintain a position above the 20/50/200 daily moving average (EMA).
The altcoin has seen a bullish pennant pattern, while buyers made a sell-off last week. After this sale, the 200-day moving average recovered.
If another recovery is to come alongside the 200-day moving average, it could pave the way for a short-term rally. Buyers may try to test the $0.53 level in the coming period. A close above this level could take XRP to the $0.56-05.8 resistance band. However, a drop below the 200 EMA could trigger some selling pressure. If this happens, the first major support can be experienced at the $0.44 region and then at the 50 EMA.
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