- XRP price declines to 4.06%, with resistance at the 50-day EMA and support at the 50-day SMA.
- Possibility of a bullish spike if XRP closes above the 200-day EMA and breaks beyond the prior high of 55.7 cents.
- The long-term picture shows solid support between 33 and 35 cents, and reasonable price goals are between $5.59 and $11.26.
Over the last several days, the price of XRP, a cryptocurrency that investors keep a close eye on, has taken a dip. It is currently finding support at the 50-day Simple Moving Average (SMA), which is around 52.10 cents, according to a video analysis by Cheeky Crypto. Determining its short-term trajectory depends critically on this support level.
If this support at the 50-day SMA holds, analysts anticipate a potential upward swing soon. However, XRP faces a significant hurdle in resistance at the 50-day Exponential Moving Average (EMA), situated at 53.40 cents. Clearing this resistance level is essential for any substantial price pump.
If XRP breaks above the 200-day EMA, which is also at 55.70 cents, and surpasses its prior high of 55.70 cents, there will be a notable price rise. This movement would suggest a positive trend and m…
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