CandleFocus XRP Price Rejection at $0.60 Signals Struggle for Further Gains
2024-09-16
Author: Content Editor
The price of XRP has rallied by 9% since September 6, approaching a resistance level at $0.60. However, demand for XRP has started to decline, leading to a decrease in daily active and new addresses for the token. This decline in network activity suggests reduced interest in XRP. The price of XRP has also fallen below its 20-day exponential moving average (EMA), indicating weakening upward momentum. XRP's price has also slipped below the Leading Span A of the Ichimoku Cloud, signaling weakening bullish momentum. If demand does not pick up, XRP's price could further decline towards the Leading Span B and potentially reach its August 5 low of $0.38. However, if demand returns, XRP could regain bullish momentum and potentially reach $0.74.
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