Ripple‘s (XRP) price recently encountered resistance at the $0.65 golden ratio level, indicating a potential challenging period ahead for its price trajectory.
Ripple Faces Critical Resistance
In the past few days, the XRP price approached its critical resistance of $0.65 but faced a downtrend after several unsuccessful breakout attempts. Consequently, XRP retreated to find support at the $0.55 level, where it began to show an upward trend. The daily chart reveals a bullish crossover, suggesting a short to medium-term uptrend, while the Moving Average Convergence Divergence (MACD) lines continue to rise. However, the Relative Strength Index (RSI) remains neutral, and the MACD histogram has shown a downtrend since yesterday.
Experts suggest that on XRP’s 4-hour chart, despite the MACD lines indicating a downtrend, a golden crossover confirms a short-term uptrend. The RSI stays neutral, and the MACD histogram indicates rising momentum. Yet, XRP is facing resistance around $0.608 at the 50-4 hour EMA, which could hinder its progress. As a result, XRP may need to retreat to the golden ratio support near $0.55 until it can successfully clear the $0.65 resistance.
Ripple Price Analysis
According to experts, XRP’s weekly chart indicates a mid-term bullish trend with a golden crossover, supported by an uptrend in the MACD histogram. While the MACD lines are on the verge of an uptrend, the RSI continues to be neutral. A break above the $0.65 level could lead XRP to an important Fibonacci resistance at $0.75 and potentially higher resistance at $0.923. Conversely, if XRP pulls back, it could find support near the golden ratio at $0.54, where the 50-week EMA is also located.
On the monthly chart, XRP indicators lean towards an uptrend with a neutral RSI and rising MACD lines, accompanied by an uptrend in the MACD histogram. This upward movement has been ongoing for months, but XRP has not yet triggered a definitive bullish reversal. Breaking the resistance around the $1.35 level could be crucial to achieving this. Ripple‘s price is experiencing a notable downtrend against BTC, and the next significant support level for the altcoin price is estimated to be around 0.0000062 BTC.
