October 5, 2022

Ripple (XRP) Price Prediction: XRP Remains Pressured Below $0.80 Near 50 EMA

2 min read

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Ripple’s(XRP )rate might not sustain the previous session’s gains on Saturday. XRP recover highly on Friday after the Russia-led war on Ukraine send out shockwaves across global markets on Thursday. However the price finds it difficult to move beyond the 50-day EMA (Exponential Moving Average) as it hovers near the vital barrier.

  • Ripple (XRP) edges lower on Saturday as volatility keeps financiers on edge.
  • Nevertheless, the drawback risk stays undamaged as the cost fails to check $0.80.
  • XRP bulls missed out on the opportunity to take advantage of Friday’s sound get better.

Based on the Whale Alert, the US-based Bittrex exchange moved 20 million XRP to the Korean platform Upbit.

At the time of writing, XRP/USD at $0.76, down 1.21% down for the day. The sixth-largest cryptocurrency by market cap held the 24-hour trading volume of $3,956,429,359 with losses of 0.41%.

XRP searches for bearish reversal

Source: Trading view On the day-to-day chart, Ripple (XRP) has been trading lower since the rate made swing highs $0.91 as it moves inside the ‘increasing wedge’ formation. It is a bearish turnaround pattern as the cost continues to sell ‘lower high lower low development’. As the cost evaluated the lows of $0.67 and $0.622 and is among the ways to revisit $0.58.

Furthermore, the cost stays forced below 200-EMA (Exponential Moving Average) at $0.85 since December 24. If the cost sliced listed below the 50-day EMA of $0.76 then it could fall towards the lower trend line of $0.58.

On the other hand, if the cost is able to break above the psychological $0.87 level then it might move toward the important $1.0 level.

Technical signs:

RSI: The Daily Relative Strength Index (RSI) trades at 51 below the average line.

MACD: The Moving Average Convergence Divergence (MACD) hovers just above midline with upside momentum.

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