1 week ago
XRP is taking a bull breather a time aft Donald Trump sounded plans for a strategical token reserve alongside bitcoin (BTC), ether (ETH), cardano (ADA) and solana (SOL).
The payments-focused cryptocurrency rallied 25% wrong hours of Trump’s Truth Social post, reaching $3, but has since pulled backmost to $2.6 astatine property time. Prices person pulled backmost to the descending trendline from Jan. 16 highs.
Among method indicators, the comparative spot scale (RSI), which measures if terms is moving excessively fast, roseate to 70 precocious Sunday and has retraced to 48 from above-70 oregon overbought readings observed precocious Sunday, signaling imaginable for a renewed determination higher.
However, prices stay beneath the 50-hour SMA ($2.65), signaling weakness, portion the broader 200-hour SMA ($2.50) supports that remains intact.
The Moving Average Convergence Divergence hourly illustration shows momentum shifts—its enactment crossing beneath the awesome astatine $3 (now beneath zero) confirms a bearish crook aft the rally.
Key levels
The 20-hour Bollinger Bands, which specify a terms range, amusement $2.9 arsenic the precocious bounds and $2.4 arsenic the lower, and with prices astatine $2.6 successful the middle, it indicates reduced volatility aft the earlier spike.
The rally to $3 exhausted buying unit with RSI astatine 70 and a MACD crossover, supporting a pullback. The breach of the 50-hour SMA reflects short-term bearish control, but the 200-hour SMA astatine $2.5 is captious support.
Current terms ($2.62) is astatine a pivot: a interruption beneath $2.50 risks further declines, portion a determination supra $2.65 could people the $3 level and above. Momentum favors bears short-term, and speculators could ticker measurement and a decisive determination for further positioning.
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