XRP (XRP) has been trading below the moving averages for the past few days, but the failure to pull the price below $0.50 suggests that selling pressure is drying up at lower levels.
XRP/USDT daily chart | Source: TradingView
Buyers will try to build their strength by pushing the price above the moving averages. If they do, the XRP/USDT pair could rise to the overhead resistance at $0.64. Sellers are expected to defend the $0.64 level aggressively as they have done in the past.
On the other hand, if the price turns down from the moving average, it will signal that the bears are still selling on every rally. A break below $0.50 could start a decline towards the strong support at $0.46.
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