Summary
TLDR: XRP price faces rejection at $0.75 level, now in corrective phase. Support at $0.52 crucial for maintaining bullish momentum. Weekly and daily charts show mixed signals, potential for bearish trend in short term. Death cross looms on 4H chart, price declining against Bitcoin. This article is for informational purposes only, not financial advice. Conduct research and consult professional before making decisions.
Key Points
1. The XRP price has encountered a bearish rejection at the critical golden ratio level of approximately $0.75, leading to a corrective phase in the price of Ripple.
2. The XRP price is facing substantial Fibonacci support around $0.52, with the 50-month Exponential Moving Average (EMA) providing additional support at this level.
3. The weekly chart analysis shows bearish signals emerging, with the MACD lines on the verge of a bearish crossover. However, there is a potential opportunity for Ripple to rebound bullishly from the golden ratio support level around $0.52.