Crypto
XRP Price Breakout Faces Crucial Resistance Zone
XRP price has been on an upward trend over the past day, gaining 6.25% to trade at $1.41 with a trading volume of $4.31 billion.
Despite this increase, analysts note that XRP still hasn't reclaimed its monthly 21 EMA, a key level for bullish momentum.
A close above $1.63-$1.65 and the falling wedge break would confirm a stronger bullish setup, but losing the 50 EMA could lead to a return to the 100 EMA, last cycle's macro bottom zone.
The XRP price is now facing multiple technical resistance levels, including the 0.5 and 0.618 Fibonacci pockets between $1.45-$1.51, which have historically acted as strong decision zones.