Ripple price loses more than 24% of accumulated earnings in 7 hours and returns to support of $ 1.1.
XRP must overcome resistance of $ 1.4 and $ 1.6 to pave the way for a rise to $ 2.
The MACD can show a downward trend at any time when the 12-day EMA falls below the 26-day EMA.
Ripple closed last week at $ 1.35, boosting investor interest and speculation with a profit of up to $ 2. However, there was a correction in which XRP lost some positions against $ 1. Support of $ 1.1 plays a crucial role in ensuring losses are limited, but CoinGecko’s data shows that Ripple traded 7.4% lower in the 24 hours.
Surge Price Bounces Back After Support From $ 1.1
The cross-border money order token is currently hovering at $ 1.2, as bulls try to move above $ 1.4 in the near term. According to the Relative Strength Index (RSI), the Bulls could have saved the situation by preventing further correction.
Currently, the RSI, which tracks the trend of the asset and measures its strength, is held at 70. As the overbought movement continues, XRP is expected to rise further.
Curiously, according to the 12-hour schedule, 50 Simple Moving Averages (SMA) could surpass the mark above 200 SMA in upcoming sessions. Although this indicator is not a gold cross, it usually detects movement towards the north. So if buyers break through the $ 1.4 and $ 1.6 barriers, this could lead to another strong upward trend.
12-hour XRP / USD chart
XRP / USD price chart for Trade Review
It is worth noting that traders need to know that the expected ripple rise may not occur, especially if the Moving Average Convergence indicator (MACD) is on a downward trend in the coming sessions. According to the exact deadline, the sales signal is already on the horizon. When the 12-day exponential moving average (EEA) falls below the 26-day EEA, the chances of a comprehensive correction will increase.
The MACD follows the ripple trend and calculates its momentum. The move towards the midline strengthened the outlook for decline. Therefore, this is one of the most c
