XRP Price Action
Daily Chart
XRP remained well below the 50-day and 200-day EMAs, sending bearish price signals.
An XRP break above the top trend line would give the bulls a run at the 50-day EMA. A breakout from the 50-day EMA would bring the 200-day EMA and $0.5739 resistance level into play. Selling pressure could intensify at the $0.5739 resistance level. The 200-day EMA is confluent with the resistance level.
Investors should monitor SEC vs. crypto case-related chatter throughout the session.
Conversely, an XRP fall through the bottom trend line would give the bears a run at the $0.50 handle.
The 14-day RSI reading, 43.51, suggests an XRP drop below the $0.50 handle before entering oversold territory.
4-Hourly Chart
On the 4-hourly, XRP sat below the 50-day and 200-day EMAs, affirming the bearish price signals.
An XRP breakout from the top trend line and the 50-day EMA would support a move toward the $0.5361 resistance level. A break above the $0.5361 resistance level would bring the 200-day EMA into play.
Conversely, an XRP break below the bottom trend line could signal a drop to the $0.50 handle.
The 14-day RSI reading, 48.82, indicates an XRP drop below the $0.50 handle before entering oversold territory.
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