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- Technical Outlook: Can XRP Sustain Its Recovery?
XRP price is fluctuating around $1.36, well below the 50-day exponential moving average of $1.76, the 100-day EMA of $1.97, and the 200-day EMA of $2.16. All three moving averages are trending downward, reinforcing the bearish trend.
The Moving Average Convergence Divergence (MACD) remains below the signal line and under zero. Meanwhile, the red histogram bars are shrinking, indicating a slowdown in bearish momentum. However, the Relative Strength Index (RSI) at 32, close to oversold territory, suggests weakening market strength, while the downward trendline from the all-time high of $3.66 prevents any rebounds, with resistance near $2.13, limiting recovery attempts.
Daily chart of XRP/USDT
Although the MACD is still below the signal line, it is poised to cross above it. This scenario could encourage traders to take on more risk and support a steady recovery toward the start of this week at $1.43. Still, XRP remains volatile, and the correction could extend to its October 10 low of $1.25.