- XRP has bounced back from $0.43 to $0.11, hinting at a reversal.
- Bullish momentum is rising with MACD signals, despite neutral RSI.
- Key support for XRP against BTC is at 0.0000062 BTC, with potential breakout resistance at 0.00001238 BTC and 0.0000134 BTC.
XRP has seen a significant rebound, climbing from a low of $0.43 to a gain of approximately $0.11. This resurgence follows a notable 43% decline from its recent peak, signaling a potential turnaround in its trajectory.
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Bullish momentum is strengthening, notably with the reclaiming of the golden ratio support. It hints at a promising short-term outlook, provided closures above $0.52 can be sustained. While the MACD suggests a bullish trend, the RSI’s neutral position implies further upside potential despite recent price gains.
The monthly chart presents an optimistic picture, yet the weekly analysis offers a more nuanced view. A definitive reversal hinges on reclaiming the critical $0.62 support level, potentially paving the way for a target of $0.75.
Additionally, breaching the Fib resistance at $0.54 marks a significant milestone, especially against the backdrop of a bullish BTC nearing its daily peak, boosting overall market sentiment. As anticipation builds for the release of major companies’ quarterly earnings reports and potential positive PCE data on Friday, the stage is set for a possible acceleration in the ongoing rally, gaining momentum towards the week’s end.
XRP‘s performance against BTC also warrants attention as a key indicator for altcoin investors. Notably, the crucial support level against BTC stands at 0.0000062 BTC, with early indications from MACD and RSI suggesting a potential turnaround from oversold conditions.
Looking ahead, the focus shifts to resistance levels at 0.00001238 BTC and 0.0000134 BTC, presenting opportunities for a breakout, possibly driven by upcoming developments related to the case.
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