XRP is trading at $3.10 which is below the 4-hour EMA 50 and showing short term bearish pressure.
Technical Summary
🔹️EMA50 (4H):
🔹️XRP is below it – short term bearish sign.
🔹️RSI: Neutral – no strong momentum to the either side yet.
🔹️MACD: Currently showing a negative signal – possible more downside.
Key Support Zone
XRP has a robust support at $2.96. Prior to any potential bounce, it is more likely XRP might retest the $3.00 mark.
Provided the price sustains above the support, a rebound seems likely. However, failure to hold this support might open the downside movement.
What to Monitor
🔹️Price action around the $3.00 and $2.96 levels
🔹️Indications of MACD Merger
🔹️Any volume surge that supports a rebound
Summary:
XRP is likely to fallback to $3.00 and then bounce back. It's critical to monitor the $2.96 support level. If it remains stable, XRP is positioned to recover.
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