- August 27, 2022
XRP Price Forecast: Ripple price rejected bearishly
The XRP price bounced off the Golden Ratio support and was then rejected bearishly. Nevertheless, XRP is more bullish than ETH and BTC.
In the last XRP price forecast we wrote“ “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.“
The XRP price bounced strongly and reached $ 0.371
The XRP price bounced strongly against our correction target of $ 0.33 and rose to $ 0.371. Although the Ripple price reached the first price target of around 0.36 USD, the golden ratio at around 0.38 USD remained unaffected. Thus, the correction wave remained intact, and Ripple again returned to the Golden Ratio support at around $ 0.33.
XRP could now bounce back there to rise to around $ 0.36. If the Ripple price breaks the Golden Ratio support at around $ 0.33 bearish, however, significant support is waiting for the Ripple price again between $ 0.245 and $ 0.305. So the Ripple price could fall 8 to 26% if the Golden Ratio support is broken bearishly at around $ 0.33.
In addition, the histogram of the MACD in the daily chart has been ticking bearishly lower since yesterday and the MACD lines have also crossed bearishly. The RSI is neutral, but could build a bullish divergence if the XRP price does not break the Golden Ratio support bearishly now.
4H chart shows a Death Cross
The 4H chart has a death cross, which confirms the trend bearish in the short term. In addition, the XRP price is below the 50-4H-EMA and 200-4H-EMA. Furthermore, the MACD’s histogram is ticking bearishly lower and the MACD lines are crossed bearishly. The RSI is neutral.
So it looks bearish on the 4H chart.
Weekly MACD is still clearly Bullish
On the weekly chart, the MACD is still clearly bullish. After all, the histogram has been ticking bullish higher for a few weeks and the MACD lines have also crossed bullish. In addition, the EMAs are not yet bearishly crossed. The RSI is neutral.
If the XRP price breaks the Golden Ratio bearishly at around $ 0.33, the XRP price could still fall sharply. For chances of a bullish trend reversal, the Ripple price must first break the Golden Ratio resistance at around $ 0.4, where XRP failed a few weeks ago.
Monthly chart is clearly bearish for the XRP price
In the monthly chart, the XRP price is clearly bearish. Thus, the histogram of the MACD ticks bearishly lower, the MACD lines are crossed bearishly and the RSI gives neither bullish nor bearish signals. In addition, the bearish rejection of the Golden Ratio at around USD 0.4 confirms the bear trend.
If the Ripple price does not find a bottom between $ 0.245 and $ 0.3, the XRP price could even correct between $ 0.114 and $ 0.17. This would put the XRP price back at the 2020 low point.
Against BTC, the Ripple price gives mixed signals
Against BTC, the XRP price sometimes forms higher lows and highs, sometimes lower highs and lows. At the end of June, the XRP price at the Golden Ratio was rejected bearishly at around 0.0000185 BTC, which initially confirms the bearish trend.
Subsequently, the XRP price could not break the 200-day EMA resistance at around 0.0000165 BTC. But now the XRP price was able to break the 200-day EMA on the third attempt. Thus, the Ripple price formed a higher high point. The XRP price could now make another attempt to break the Golden Ratio at around 0.0000185 BTC.
In addition, the histogram of the MACD ticks bullish higher in the daily chart and the MACD lines are crossed bullish. The RSI is neutral.
Towards the bottom, significant support is waiting for Ripple at around 0.0000147 BTC at the latest.
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