XRP price started the first week of the April series on a lower note. The price continues to be under pressure below the critical 200-day EMA. Now the price is trading in a very tight range between the 200-day and 50-day EMA at $0.85 and $0.80 respectively.

XRP price is trading lower with significant losses on Monday. A break below the 50-day EMA could drag the price further towards $0.75. The upside continues to push below the 200 EMA.

XRP Price Is Trading On The Bearish Edge

Source: Trade View

On the daily chart, XRP price fell after failing to hold the psychological level of $0.85. XRP price has been trading within the ‘symmetric’ triangle pattern since Feb. 8. Finally, the triangle produced a bearish breakout that ruined the USD 1.0 opportunity.

Currently, the price is hovering near the 50-day EMA (exponential moving average) at $0.80. Now if the price were to fall below the moving average, it would further intensify the sale of the token. The immediate downward target is placed at $0.75.

Rather, a shift in bullish sentiment along with the breach of the 200 EMA would revive hopes for the bulls. For it to continue its upside gains, XRP price needs to make a daily close above the critical level of $0.90.

Next, market participants would keep their eyes on the December 23 highs at $1.07.

As of publishing time, XRP/USD is trading at $0.81, down 3.83% for the day. The 24-hour trading volume of the eight largest cryptocurrency stands at $1,790,237,181 according to CoinMarketCap.

Technical indicators:

RSI: The daily Relative Strength Index fell below the average line on March 31. Any drop in the indicator would bolster the bearish outlook for the price. He is currently at 51.

MACD: The moving average convergence divergence is trading above the midline but with a negative bias. Bearish momentum is picking up, indicating more downward pressure.

Disclaimer

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

About the author

Rekha started out as a Forex market analyst. Analysis of fundamental news and its impact on the market movement. Develop interest in the fascinating world of cryptocurrency later on. Following the market based on technical aspects. Investigate analysis of the chain to follow the market.



This post XRP Price Loses Bullish Momentum; Is $0.75 possible?

was published first on https://coingape.com/markets/ripple-price-prediction-xrp-price-losses-bullish-momentum-is-0-75-possible/

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