The post XRP Price May Soon Gain Momentum, But an Interim Retest May Provide a Good Entry Point appeared first on Coinpedia Fintech News
The Ripple price has been extremely bullish since the beginning of the monthly trade. Meanwhile, the bears attempted very hard to drag the price lower but the bulls appear to be poised to maintain a significant upswing later. After breaking the descending pattern, the XRP price is flashing huge possibilities of igniting a notable upswing in the next 24 to 48 hours.
Indicators | Value (STF /HTF) | Action (STF/HTF) |
Relative Strength Index(RSI) | 39.49/ 44.46 | Sell / Sell |
MACD | -0.004 / 0.004 | Sell / Buy |
Average Directional Index(ADX) | 23.42 / 34.64 | Sell / Sell |
Ultimate Oscillator | 40.28 / 52.26 | Sell / Buy |
Bull-Bear Power | -0.0125 / -0.0297 | Sell / Sell |
Pivot Levels | Short Term | Long Term |
50-Day Moving Average(MA) | $0.4641 | $0.4392 |
200-Day Moving Average(MA) | $0.4536 | $0.4312 |
Resistance | $0.4574 | $0.4674 |
Support | $0.4444 | $0.4436 |
The technical indicators point toward a short-term pullback that could be imminent as the RSI is slightly bearish. Meanwhile, the selling pressure has been mounted due to which MACD is notably bearish. However, in the long term, the XRP price continues to remain bullish and hence a notable upswing may rise the asset beyond the long term in HTF at $0.4674 by the end of October 2022.