Ripple XRP closes below key moving averages. $0.56??? for BINANCE:XRPUSDT by TradeViewDemiGod

Ripple XRP closes below key moving averages. $0.56???

XRP's recovery hit a wall at the 20-day EMA ($0.47) on April 29, indicating negative sentiment and traders selling on rallies. The bears are likely to pull the price towards the strong support level of $0.43, and if it cracks, the XRP/USDT pair may collapse to the next major support level of $0.36.

A break and close above the 20-day EMA would suggest that the bears are losing their grip, opening doors for a possible rally to the resistance line, and subsequently to $0.56.

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