Summary
TLDR: Ripple’s XRP price is currently undergoing a corrective phase, with a recent decline after facing bearish rejection at the $0.632 fib resistance level. The daily chart shows potential for a bullish outlook, while the 4-hour and weekly charts indicate bearish momentum. The monthly chart suggests a bearish trend for April, while XRP is experiencing a downward trend against Bitcoin. The crucial levels to watch are $0.53 and $0.75 for support and resistance, respectively.
Key Points
1. The XRP price continues to undergo a corrective phase, with investors eagerly waiting for a rebound to resume its upward trajectory.
2. Ripple’s price hurdle was rejected bearishly at the $0.632 Fibonacci resistance level, leading to a potential revisit of the golden ratio support around $0.52.
3. The MACD indicator signals a bearish development in the weekly chart, with the possibility of a bearish April characterized by a continuation of the ongoing correction in the XRP price.