CandleFocus XRP Fails to Overcome Death Cross, Casts Doubts on $0.65 Rally
2024-10-15
Author: Content Editor
The price of Ripple's XRP token fell from $0.64 to $0.52 but has since climbed back to $0.54. However, with weakening momentum and technical indicators showing weakness, the path to $0.65 appears uncertain and the odds of a sustained rally diminish. The 20 EMA crossed below the 50 EMA, indicating prolonged downward pressure. XRP faces resistance at $0.55 and declining trading volume suggests limited chance of further upward movement. Without a significant increase in buying pressure, the chances of sustaining an uptrend are slim. However, if bulls defend the price from falling below $0.52, the prediction could be invalidated and XRP's price might climb to $0.61.
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