• August 21, 2022

XRP Price Forecast: Is the Ripple price bouncing now?

XRP Price Forecast: Is the Ripple price bouncing now?

The XRP price was rejected bearishly at the Golden Ratio resistance at around $ 0.4 and has now returned to the Golden Ratio support at around $ 0.33.

Is the XRP price bouncing now?

XRP Price Chart from Tradingview

The XRP price reached the price target of the Golden Ratio at around 0.4 USD, however, this was strongly rejected and broke the 50-day EMA support at around $ 0.368. Thus, the Ripple price is now at Golden Ratio support at around $ 0.33, which could bounce Ripple strongly. At around USD 0.36 and USD 0.38, XRP encounters the decisive Fibonacci resistances, because without a break in the golden Ratio at around USD 0.38, the correction wave remains intact.

In addition, the histogram of the MACD in the daily chart is also ticking bearishly lower and the MACD lines are crossed bearishly. The RSI is neutral.

A death cross is established in the 4H chart

XRP Price Chart from Tradingview

In the 4H chart it becomes clear that the XRP price is already starting to bounce off the Golden Ratio at around $ 0.33. In addition, the histogram of the MACD is also ticking bullish higher in the 4H chart, while the MACD lines still remain bearishly crossed. Here, too, the RSI is neutral.

Currently, the EMAs are crossing bearishly, which could establish a death cross. This would confirm the trend bearish in the short term.

The weekly chart continues to be bearish

XRP Price Chart from Tradingview

In the weekly chart, the MACD continues to be clearly bearish, because the histogram is ticking bearishly lower and the MACD lines remain crossed bearishly. Here, too, the RSI is neutral.

At the latest between $ 0.235 and $ 0.3, Ripple encounters significant support. On the upside, after a bullish break, the golden Ratio is waiting for significant resistance at around $ 0.4 at the 50-week EMA at around $ 0.52. In addition, there is also the 0.382 Fib resistance.

Against BTC, the XRP price could bounce now

XRP Price Chart from Tradingview

Also against BTC, the Ripple price was rejected bearishly at the Golden Ratio resistance at around 0.0000183 and is thus again below the 50-week EMA. Currently, Ripple is encountering horizontal support at around 0.0000156 BTC. If XRP breaks this support bearishly, the next significant Fibonacci support is waiting at around 0.0000145 BTC.

In addition, the MACD is still bullish on the weekly chart, because the MACD lines remain crossed bullish and the histogram ticks bullish higher.

Disclaimer

All information contained on our website is researched to the best of our knowledge and belief. The journalistic articles are for general information purposes only. Any action taken by the reader on the basis of the information found on our website is done exclusively at his own risk.

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