#WalmartFalls7%
The pulse of the market: XRP rises more than 15% and breaks through a key resistance—how far could it go?$XRP
@Ripple $XRP is experiencing one of its strongest days in recent weeks, with a gain of over 15% that allowed the price to recover important technical levels and clearly move above the 100-day EMA.
The move significantly improves the short-term structure and opens the door to an extension of the gains. However, the speed of the rally, the RSI in overbought territory, and the growing bullish positioning in derivatives increase the likelihood of profit-taking before XRP can consolidate new highs.
◽$XRP moves above the 100-day EMA and begins to show signs of overextension
On the daily timeframe, XRP/USDT recorded an especially notable breakout by recovering $1.10 and then surpassing the 100-day EMA, located around $1.156. This moving average had acted as a dynamic resistance during much of the recent decline, so closing again above it represents a major improvement in the technical structure.
The price also broke the 0.382 Fibonacci retracement level, at $1.1998, and came close during the session to the next relevant resistance at $1.3286.
The pulse of the market: XRP rises more than 15% and breaks through a key resistance—how far could it go?$XRP
@Ripple $XRP is experiencing one of its strongest days in recent weeks, with a gain of over 15% that allowed the price to recover important technical levels and clearly move above the 100-day EMA.
The move significantly improves the short-term structure and opens the door to an extension of the gains. However, the speed of the rally, the RSI in overbought territory, and the growing bullish positioning in derivatives increase the likelihood of profit-taking before XRP can consolidate new highs.
◽$XRP moves above the 100-day EMA and begins to show signs of overextension
On the daily timeframe, XRP/USDT recorded an especially notable breakout by recovering $1.10 and then surpassing the 100-day EMA, located around $1.156. This moving average had acted as a dynamic resistance during much of the recent decline, so closing again above it represents a major improvement in the technical structure.
The price also broke the 0.382 Fibonacci retracement level, at $1.1998, and came close during the session to the next relevant resistance at $1.3286.