XRP Technical Analysis: Recovery Ready To Retest Fallout

XRP buyers avoid a fall to the $0.50 psychological mark with a reversal from the $0.60 mark, attempting to inflate the market price above the $0.70 mark. Key technical points: XRP prices retest the $0.63 mark. The MACD lines diverge to regain bullish alignment. The 24-hour trading volume of Ripple is $1.55 Billion, marking a 20% fall. Past Performance of XRP XRP coin price shows a long-coming downtrend continuing after facing rejection at the 50-day EMA, resulting in a 25% fall last fortnight. The downtrend breaks under multiple support levels and reaches the $0.58 level before making a bullish candle to retest the $0.63 level. Source-Tradingview XRP Technical Analysis XRP/USD price chart shows a sharp V-shaped recovery from the $0.58 level to avoid a downfall to $0.50 and hints at a potential bullish continuation. Therefore, closing above the $0.63 will ensure a price jump to the next resistance at $0.70. As the selling pressure grows, the crucial daily EMAs continue to fall under bearish alignment and provide dynamic resistance to bullish attempts. Thus, the EMAs are moving lower with a high supply zone. The RSI slope shows a sharp change in the oversold as it breaks above the 30% limit to challenge the 14-day average line. Therefore, the indicator indicates an intense bullish fight back, increasing the chances of a bull run to $0.70. The MACD and the signal lines maintain a bearish alignment within the negative territory, b...