XRP Technical Analysis: Is It Worth To Hold XRP As It Reaches $0.70?

XRP coin price shows a boom in selling pressure as the downfall continues and prepares for the $0.70 breakout. Should you keep holding? Key technical points: XRP prices surpass the $275 mark. The 50 and 200-day EMA give a golden crossover. The 24-hour trading volume of Ripple is $1.99 Billion, marking a 12% rise.  Past Performance of XRP The XRP coin price continues to move lower for the third day in a row. The coin price jumped almost 68% following a drop from the high of $1.01 reached in December. The increase allowed the token to surpass the $0.90 threshold. However, the Ripple price fell back to its lowest level at $0.62 at the end of February and is trading within a range between $0.70 to $0.90. Source-Tradingview XRP Technical Analysis  XRP coin price is currently at the support level of $0.72. If it falls below $0.70, the weekly support could result in a breach into the trading band. After that, the price may fall to the horizontal support zone of $0.63 and then the lows at $0.58. The downfall starts at the 50-day EMA slope with a double top fallout while the crucial EMAs maintain a bearish alignment.  RSI Indicator: The daily-RSI value fell below the 50% line and the 14-day average line. Hence, the falling trend in RSI approaches the oversold zone. MACD Indicator: The MACD and signal lines remain merged in the negative territory and prepare for a bearish divergence as the downfall gains momentum.  In a nutshell, the XRP technical analysis shows a potential fall to the $0.63 mark. Upcoming Trend  XRP coin price experiences a rise in bearish momentum as the breakout of the $0.70 level becomes imminent. However, traders need to wait for a price action confirmation to avoid a bear trap. On the other hand, if the price can reach above the $0.75, it may be able to bounce into the psychological $0.80 threshold. Resistance Levels: $0.80 and $0.85 Support Levels: $0.63 and $0.58

The post XRP Technical Analysis: Is It Worth To Hold XRP As It Reaches $0.70? first appeared on Cryptoknowmics-Crypto News and Media Platform.

The post XRP Technical Analysis: Is It Worth To Hold XRP As It Reaches $0.70? appeared first on Cryptoknowmics-Crypto News and Media Platform.

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