Main Points:
XRP (XRP) rose to a multi-year high over $ 3.66 on Friday, indicating the aggressive purchase of bulls. That helped XRP market capital has exceeded It was McDonald’s global fast-food giant Monday. However, failure to maintain momentum may be tempted for short-term buyers to book revenue after a sharp run-up.
What are the critical levels of support and resistance to guard? Let’s review the charts to find out.
XRP price prediction
The XRP failure to climb above $ 3.66 resistance in the previous days began a pullback below $ 3.40.
The XRP/USDT pair may fall into a 20-day exponential transfer of average ($ 2.99), which is a critical level to guard. If the price turns from the 20-day EMA with strength, it indicates the purchase at a lower level. Bulls will try to push the price to $ 3.66. A break and near above $ 3.66 can push the pair to $ 4 and then $ 4.86.
This optimistic perspective is not valid in the near term if the price continues to lower and break below the 20-day EMA. That suggests a break above $ 3.40 can be a trap.
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The pair fell under $ 3.34 support, indicating that the bears were trying to make a return. The next downside support will be at $ 3 and later at $ 2.80. If the price turns from the support zone and breaks above the moving averages, it is suggested that the corrective phase may be completed. The pair can climb to $ 3.66.
Instead, if the recovery of the stalls at 20-em, it suggests a change in emotion from buying to dips to sell at rallies. This increases the risk of a deeper fall to $ 2.60. Such a move can delay the continuation of the uprising.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
