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Technical Analysis of XRP Price Action: Bullish on the One-Hour Timeframe, Bearish on the Daily Timeframe

Ripple XRP Price CRASH imminent?
Ripple XRP Price CRASH imminent?

In this article, we will discuss the technical analysis of XRP price action on multiple timeframes. We will start with the one-hour timeframe, where XRP is seen ranging sideways and a potential move to the upside is expected after a bearish phase. On the daily timeframe, a bearish outlook is presented, with expectations of a move to the downside, targeting specific price levels. The weekly timeframe analysis includes discussion of battles between bulls and bears for control, with the 50 EMA as a critical level.

One-Hour Timeframe

On the one-hour timeframe, XRP is seen ranging sideways between $0.47 and $0.50. The price has been consolidating in this range for the past few days, and a breakout is expected soon. The RSI is in the neutral zone, which suggests that the market is indecisive. The MACD is also flat, which indicates that there is no strong trend in place.

If XRP breaks above $0.50, it could move up to $0.55 or even $0.60. However, if the price breaks below $0.47, it could move down to $0.45 or even $0.40.

Daily Timeframe

On the daily timeframe, XRP is seen in a bearish trend. The price has been falling since June, and it is currently trading below the 50-day moving average. The RSI is in the oversold zone, which suggests that the market is oversold and a rebound could be in the near future. However, the MACD is still bearish, which suggests that the downtrend is still in place.

If XRP breaks above the 50-day moving average, it could move up to $0.50 or even $0.55. However, if the price breaks below $0.40, it could move down to $0.35 or even $0.30.

Weekly Timeframe

On the weekly timeframe, XRP is seen in a battle between bulls and bears. The price is currently trading above the 200-day moving average, which is a bullish sign. However, the RSI is in the neutral zone, which suggests that the market is indecisive. The MACD is also flat, which indicates that there is no strong trend in place.

If the bulls can push the price above the 50-week moving average, it could move up to $0.60 or even $0.70. However, if the bears can push the price below the 200-day moving average, it could move down to $0.40 or even $0.35.

Conclusion

The technical analysis of XRP price action suggests that the market is indecisive on the one-hour timeframe. However, the daily timeframe is bearish, and the weekly timeframe is in a battle between bulls and bears. The next few days will be crucial for XRP, as it will determine the direction of the market in the near future.

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