$XRP
🚨Technical outlook: XRP edges lower amid weak technicals🚨
XRP is trading well below the 50-day Exponential Moving Average (EMA) at $1.80, the 100-day EMA at $1.99 and the 200-day EMA at $2.18. All three moving averages are sloping downward, indicating a bearish momentum bias.
The Relative Strength Index (RSI) at 32 is poised to enter oversold territory on the daily chart, proposing sellers have the upper hand. Meanwhile, the support-turned-resistance at $1.40 limits XRP’s upside, putting the demand zone at $1.25 in focus. Below this level, losses may escalate to retest Friday’s low at $1.12.
Conversely, a knee-jerk reversal would not be a pipe dream if the Moving Average Convergence Divergence (MACD) indicator lifts above the signal line on the same chart. The red histogram bars should continue their contract to usher in a bullish transition that may push XRP above Friday’s high at $1.54.
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