XRP price has pulled back after a sharp August rally, falling below its 50-week exponential moving average near $1.54.
The token briefly reached $1.70 before rejecting the 50-week EMA, according to ChartNerdTA, who calls this a 'major caution signal' for XRP.
ChartNerdTA notes that reclaiming $1.54 would invalidate the bearish setup, and the analyst has marked $1.30-$1.29 as the key mid-term support zone to watch.
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