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- XRP RSI is rising with readings of 70, 77, and 85, signaling momentum growth.
- A bullish MACD crossover may push XRP to $2.80-$3.00, or signal more selling
- XRP faces $2.50-$2.80 resistance and $2.00 support, influencing short-term volatility.
XRP is $2.30771, down 1.85% on a $2.35869 to $2.30205 day. The currency has had trend-dependent price action with support of $2.50 and $2.80 and resistance of $2.00 that is dictating near-term movement.
MACD and RSI Analysis
MACD measures market momentum as it traces the divergence between the two moving averages. More MACD crossover above the signal line represents mounting bullish pressure, and decreased crossover represents increasing selling pressure. The MACD histogram turns green on dominance in buying and turns red on dominance in selling to provide signals on changing sentiments.
Source: Trading View
The RSI is from 0 to 100 for marking market strength, both being overbought and oversold. Over 70 is an overbought and shows a higher chance of pullback, and under 30 is an oversold and can be an indicator of a rebound. As RSI goes above 55, it shows growing bullishness and potential upward push.
A decline below 40 shows bear pressure sustained in its action, typically causing confusion among buyers. This level can help to support prices or trigger further losses based on the state of the market. Use of RSI cross-checked with MACD allows for traders to make appropriate guesses about probable price action in the short run.
Expert Insights and Market Projection
EGRAG CRYPTO analysis portrays the steady rise of RSI, with which major indices are at 70 for confirmation of the bulls, 77 for higher momentum, and 85 for prolonged rallies. A move toward 89 could signal a breakout, similar to past XRP price surges. These levels have historically been linked to strong bullish trends, making them critical markers for traders.
Source: EGRAG CRYPTO
Historical trends show resistance at 73.80, 77.80, and 98.80 with the moving average pointing upwards. There were points where the price of XRP previously moved under instructions to be the reversal point or breakout force. If XRP finds itself at these regions, traders can alter strategy based on how the market has reacted historically.
EGRAG CRYPTO argues that if MACD turns positive and RSI breaks out above 55, XRP can retest the $2.80-$3.00 area. If the price dips below $2.20, it can test $2.00, reaffirming a strong support level. As ongoing volatility characterizes the market, traders are cautioned to monitor technical indicators and also extraneous factors that can potentially drive price action.
