XRP / TetherUSLong
XRP Ripple price analysis April 7, 2023
XRPUSDTFor the past few days, XRP has held above the 38.2% Fibonacci retracement level of $0.49, which implies that buyers are purchasing on minor dips. The 20-day EMA ($0.47) that is moving upward and the RSI in positive territory signify that the bulls have the upper hand. The next move for buyers is to push the price towards the resistance range between $0.56 and $0.58. A close above this range would indicate the start of the next leg of recovery.
On the other hand, if the price fails to surpass the overhead resistance range, it would suggest that bears remain active at higher levels. Sellers would then try to pull the price below the 20-day EMA, which could result in a plunge to $0.43 for the XRP/USDT pair.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.