XRP Price Prediction: A Break Below 200-day EMA Eyes $0.80

By Rekha chauhan
XRP Holding Better Than Most Altcoins, Here's Why

XRP price treads water on Wednesday following the previous session’s consolidated moves. The price remains pressured below the $0.90 mark. Investors seek clarity before making the next decision.

  • XRP consolidates below $0.90 for the second straight day.
  • A decisive break below the 200-EMA could see a further downside at $0.80.
  • The price surged nearly 45% from the lows of $0.62.

As of press time, XRP/USD trades at $0.86, up 0.24$ for the day. The 24-hour trading volume of the sixth-largest cryptocurrency stands at $2,023,096,843 as per the CoinMarketCap.

Advertisement
Advertisement

XRP price awaits a decisive breakout

Source: Trading View

On the daily chart, the XRP price is consolidating inside the ‘ascending triangle’ for more than a month. Currently, the price hovers near the lower trend line of the triangle, which also coincides with the critical 200-EMA (Exponential Moving Average) at $0.84.

The bulls lack the conviction to break the upper boundary of the ascending triangle. This can be seen since Monday the price remains pressured below $0.90. Now, a resurgence in the selling momentum would result in a downside breakout.

In that scenario, the XRP price would slice the 200-EMA at $0.84 with an eye on $0.80.

On the other hand, a shift in the bearish sentiment combined with the higher volumes would provide the need thrust in the price. On moving higher, the bulls will take out the highs of December 27 at $0.95 first followed by the psychological $1.0 level.

Technical indicators:

RSI: The daily Relative Strength Index trades above the average line with an upside bias.

MACD: The Moving Average Convergence Divergence remains neutral while trading above the mid-line.

 

Advertisement
Rekha chauhan
Rekha has started as Forex market analyst. Analyzing fundamental news and its impact on the market movement. Later on, develop an interest in the fascinating world of cryptocurrency. Tracking the market using technical aspects.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.