Ripple (XRP): brief price analysis
XRP broke above the immediate resistance of $0.58 on Aug. 19, clearing the path for a rally to $0.64.
The 20-day EMA ($0.57) has started to turn up gradually, and the RSI is in the positive territory, indicating that the bulls have a slight edge. If bulls overcome the $0.64 resistance, the XRP/USDT pair is likely to pick up momentum and rally toward $0.74. The bears are expected to fiercely defend the level.
The 50-day SMA is the crucial support to watch out for in the near term. A break below it suggests that the pair may remain stuck inside the $0.46 to $0.64 range for a few more days.
The 20-day EMA ($0.57) has started to turn up gradually, and the RSI is in the positive territory, indicating that the bulls have a slight edge. If bulls overcome the $0.64 resistance, the XRP/USDT pair is likely to pick up momentum and rally toward $0.74. The bears are expected to fiercely defend the level.
The 50-day SMA is the crucial support to watch out for in the near term. A break below it suggests that the pair may remain stuck inside the $0.46 to $0.64 range for a few more days.
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