The XRP price is strongly bearish and has now been rejected again at a Fib resistance. Follow $0.24 for the XRP price?
The XRP price is rejected at Fib resistors
Ripple Price Chart from Tradingview
At the end of the last upward movement at the turn of the month between June and July, the XRP price was strongly rejected bearishly at the Golden Ratio at around 0.36 BTC, after which Ripple again returned to support at around 0.3 USD. Once there, XRP bounced strongly and rose to $ 0.324, where the Ripple price met with strong rejection at the 0.382 Fib level.
In addition, the Ripple price has been forming a series of lower high points for several months and the last upward movement was so closely followed by a sell-off that Ripple could not even reach the bearish trend line. In addition, the MACD lines are on the verge of a bearish crossover, while the histogram is already ticking bearishly lower.
The RSI, on the other hand, is neutral.
Is there a Death Cross on the weekly chart?
Ripple Price Chart from Tradingview
In the weekly chart, the EMAs are getting closer and closer, which could be followed by a death cross. This would confirm the bearish trend in the medium term. In contrast, the MACD’s histogram has been ticking bullish higher for several weeks and the MACD lines could soon cross bullish.
The RSI is moving on the border with oversold regions, but does not give either bullish or bearish signals.
Currently, the XRP price is at a support, which ranges from 0.245 to 0.3 USD. If this support is broken bearishly, XRP will find support at around $0.17 at the latest.
XRP price has been in the bear market since 2018
Ripple Price Chart from Tradingview
The trend of Ripple has been bearish since 2018, because even in the bull run between 2020 and 2021, XRP could not overcome the golden ratio at around $ 2.1. This left the ATH at around USD 3.3 unmatched anyway. In addition, the MACD is clearly bearish in the monthly chart, because the histogram ticks bearishly lower and the MACD lines are crossed bearishly. The RSI is approaching oversold regions, but gives neither bullish nor bearish signals.
If the support between $0.245 – $0.3 is broken bearishly, the next support is waiting between $0.115 – $0.17.
Against BTC, XRP encounters Support on the 50-day EMA
Ripple Price Chart from Tradingview
Against BTC, the MACD’s histogram is ticking bullish higher, while the MACD lines remain bearishly crossed. The RSI is also neutral here.
XRP is currently experiencing support at the 50-day EMA at around 0.0000155 BTC and if this support is broken, significant Fibonacci support is waiting for the XRP price at around 0.0000145 BTC.
