Ripple (XRP) price was trading calmly on the first trading day of the week. XRP price action is finding some reliable support near the 50-day Exponential Moving Average (EMA) at $0.74 to look for the upside potential towards $1.0.
Ripple (XRP) price is trading within a tight range on Monday. USD hovers near 96.0 as tensions between Ukraine and Russia mount. Investors are looking for reliable support near the 50-day EMA.
At the time of writing, XRP/USD is trading at $0.78, up 0.59% for the day. The sixth largest cryptocurrency by market capitalization has a 24-hour trading volume of $2,949,057,188 with a loss of more than 18% according to CoinMarketCap.
XRP price is looking for an upside signal
On the daily chart, Ripple (XRP) price has experienced downward pressure, nearing a critical 200-EMA (exponential moving average) at $0.88. The formation of a “symmetrical triangle” signals some consolidation near the USD 0.75 and USD 0.90 short-term trading ranges.
Source: Trade View
XRP/USD is up 45% from the January lows of $0.54 with the swing highs of $0.91. After the current retracement, XRP price has the potential to rise 33% from current levels.
On the other hand, the rising trendline from the 2022 lows acts as a support for the bulls. But a resurgence in selling pressures could threaten the critical support level.
Additionally, on the downside, immediate support was found at the February 7 low at $0.67. Next, market participants were able to target the lows last seen in July at $0.50.
RSI: The Daily Relative Strength Index (RSI) hovers between 60 and 55 below the mean line indicating continuation of sideways movement.
MACD: The moving average convergence divergence (MACD) is holding above the midline with declining momentum.
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This post Ripple (XRP) Price Prediction: Ripple Consolidating Nearly $0.75, Watching 200 EMA
was published first on https://coingape.com/markets/101469-2/