Buy $GGsRipple (XRP) Price Prediction: XRP Remains Pressured Below $0.80 Near 50 EMA
Ripple’s (XRP) price could not sustain the previous session’s gains on Saturday. XRP bounce back strongly on Friday after the Russia-led war on Ukraine send shockwaves across global markets on Thursday. But the price finds it difficult to move beyond the 50-day EMA (Exponential Moving Average) as it hovers near the crucial barrier.
- Ripple (XRP) edges lower on Saturday as volatility keeps investors on edge.
- However, the downside risk remains intact as the price fails to test $0.80.
- XRP bulls missed the opportunity to capitalize on Friday’s sound bounce back.
As per the Whale Alert, the US-based Bittrex exchange transferred 20 million XRP to the Korean platform Upbit.
At the time of writing, XRP/USD at $0.76, down 1.21% down for the day. The sixth-largest cryptocurrency by market cap held the 24-hour trading volume of $3,956,429,359 with losses of 0.41%.
XRP looks for bearish reversal
On the daily chart, Ripple (XRP) has been trading lower since the price made swing highs $0.91 as it moves inside the ‘rising wedge’ formation. It is a bearish reversal pattern as the price continues to trade in ‘lower high lower low formation’. As the price tested the lows of $0.67 and $0.622 and is one of the ways to revisit $0.58.
Furthermore, the price remains pressured below 200-EMA (Exponential Moving Average) at $0.85 since December 24. If the price sliced below the 50-day EMA of $0.76 then it could fall toward the lower trend line of $0.58.
On the flip side, if the price is able to break above the psychological $0.87 level then it could move toward the critical $1.0 level.
Technical indicators:
RSI: The Daily Relative Strength Index (RSI) trades at 51 below the average line.
MACD: The Moving Average Convergence Divergence (MACD) hovers just above midline with upside momentum.
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.
Related Articles
- US-Iran War: Reports Confirm Bombings In UAE, Bahrain and Kuwait As Crypto Market Makes Recovery
- XRP Price Dips on US-Iran Conflict, But Capitulation Signals March Rebound
- Crypto Market at Risk as U.S.–Iran War Threatens Inflation With Oil Price Surge
- Polymarket U.S.–Iran Strike Bets Fuel Insider Trading Speculation as Crypto Traders Net $1.2M
- Cardano’s DeFi TVL Climbs as USDCx Stablecoin Launches on Network
- Top Analyst Predicts Pi Network Price Bottom, Flags Key Catalysts
- Will Ethereum Price Hold $1,900 Level After Five Weeks of $563M ETF Selling?
- Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline
- Pi Network Price Prediction Ahead of Protocol Upgrades Deadline on March 1
- XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend
- Dogecoin, Cardano, and Chainlink Price Prediction As Crypto Market Rebounds
