XRP course forecast: Is the correction over or is there even more downward potential? An analysis of the current charts

Veröffentlicht: 14. Juli 2023, 13:50 Uhr

Von: Krypto News Österreich

XRP course could increase: is the correction over?

The XRP course may show an upward movement, but the question remains whether the correction has already ended or whether there is further downward potential. In order to be able to make a more precise forecast, we look at the chart analysis of the daily, 4-hour and monthly.

In the daily type, the Golden Crossover of the EMAS is still intact and thus confirms a bullish trend in the short to medium term. In addition, the MacD lines crossed Bullisch and the histogram of the MacD shows an upward trend. However, it should be noted that the RSI is located in the neutral area and does not provide any clear signals.

Currently XRP finds support on the 200-dayema at around $ 0.4579. If the course bounces there, a new attempt could be made to overcome the resistance at $ 0.525. This resistance has caused a bearish rejection in recent weeks. Otherwise, there is another significant fibonacci support at around $ 0.4. As long as XRP stays over this support, the upward trend remains intact.

In the 4-hour chart, the bullish crossing of the MacD lines and the increase in the histogram indicate a possible upward movement. However, a Death Cross has already formed, which indicates a bearish trend at short notice. The RSI also does not provide any clear signals here. In order to continue the upward movement, XRP must overcome the resistance between USD 0.52 and $ 0.526. Otherwise, the course for the Golden Ratio support could fall back at around USD 0.4.

In the monkey type, the bullish increase in the histogram of the MacD shows the possibility of a sooner bullish crossing of the MACD lines for several months. If XRP concludes about $ 0.495 this month over the 50-monthema, that would be a bullish signal. The RSI does not provide any clear signals here either. In addition, overcoming the Bärische trend line that extends over the entire bear market could be a bullish confirmation for the XRP course. In this case, the Golden Ratio could be sought at around $ 0.68. A break of this brand would open further resistance at around $ 0.923 and $ 1.35. Only with a break of the golden ratio at around USD 1.35 would XRP be in a new bull cycle and possibly target the last one at around $ 2.

Compared to BTC, XRP is currently in a strong downward movement and meets a significant golden ratio support at around 0.0000145 BTC. If this breaks, the next support is around 0.0000124 BTC up to 0.0000134 BTC. The histogram of the MacD is declining and the MACD lines could soon cross Bärisch. Here, too, the RSI does not provide any clear signals. The resistance is around 0.00002417 BTC on the 50-monthema.

It remains to be seen how the XRP course will develop. The chart analyzes mentioned provide references to possible scenarios for the future. It is important to continue to observe the course development in order to be able to make well -founded decisions.