$XRP
XRP is trading within a small range with support at $2.00 and resistance at the 50-day Exponential Moving Average (EMA) at $2.07 at the time of writing on Tuesday. The Relative Strength Index (RSI) on the daily chart is at 52, indicating lack of momentum. However, due to a slight negative divergence, sellers could continue having an edge over buyers in the short term.
The Moving Average Convergence Divergence (MACD) indicator on the same chart is posted to flash a sell signal if the blue MACD line crosses below the red signal line. The presence of a red histogram expanding below the mean line would prompt traders to reduce risk exposure – a move likely to add to selling pressure.
A close below the 50-day EMA would reinforce XRP’s short-term bearish outlook and increase the odds of the token extending its decline below $2.00. The next demand zone lies at $1.81, tested on January 1.
Still, if bulls push past the 50-day EMA, a 9% breakout could occur, targeting the 100-day EMA at $2.21 and the 200-day EMA at $2.33.