XRP Scores Massive Adoption, Another Crypto Exchange Partnership Coming to Ripple
  • The crypto’s price reached a high of $0.32 and commenced a retracement.
  • On the downside, the retracement is likely to break the EMAs which will result in the price falling.

XRP/USD Medium-term Trend: Bullish

  • Resistance Levels: $ 0.61, $0.63, $ 0.65
  • Support Levels: $0.30, $0.28, $0.26

Yesterday, March 5, the XRP price was in a bullish trend zone. Yesterday, the bulls broke the 12-day EMA and the 26-day EMA to reach the bullish trend zone. It was assumed yesterday that the crypto’s price would retest the $0.34 resistance level. The crypto’s price reached a high of $0.32 and commenced a retracement.

This price retracement invalidates the earlier assumption of price reaching a high of $0.34. On the downside, the retracement is likely to break the EMAs which will result in the price falling. Meanwhile, the crypto’s price is above the EMAs which indicate that price is in the bullish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.

XRP/USD Short-term Trend: Bullish

On the 1-hour chart, the XRP price is in a bullish trend. The crypto’ price is in the bullish trend zone as the price reached a high of $0.32. However, the bears are attempting to break below the 12-day EMA and the 26-day EMA to reach the bearish trend zone.
Meanwhile, the crypto’s price is below the EMAs which indicate that price is in the bearish trend zone. The MACD line and the signal line are above the zero line which indicates a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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