Short Squeeze or temporary decline, what's next for XRP? (Ripple price analysis)

Short Squeeze or temporary decline, what's next for XRP? (Ripple price analysis)

ripple strives for higher price levels because the market experienced another upward trend last week. The dynamics of the trend looks promising, but the price must first overcome the decisive resistance mark of $ 0.43

technical analysis

of Shayan

the daily -type

After a short-term consolidation at the level of $ 0.39, the price finally broke through the sliding 100-day and 200-day average lines with considerable dynamics and continues to rise.

A breakout from the sliding 200-day average is considered a clear interest bully sign in terms of the price movement and affects the entire market mood.

The price, however, faces a decisive resistance region that consists of the static resistance zone of $ 0.41 to $ 0.43 and the middle limit of the channel. This means that a war takes place between buyers and sellers.

The upcoming price campaign will determine the short -term way of XRP, and if the bulls reach the dominance and the price exceeds the level mentioned, a further increase is expected.

on the contrary, if the price does not break out, there may be a decline, followed by short -term fluctuations.

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The 4-hour diagram

In the 4-hour time frame, the above-mentioned resistance zone from $ 0.41 to $ 0.43 is clearer, since it recently rejected the price at the end of November. The price is currently at the same level in front of the yellow descending trend line, which makes it a stronger resistance zone.

Nevertheless, a solid declining divergence between the price and the RSI indicator has formed and could reverse the current trend, which leads to an easy decline. As a result, the chances are Ripple in relation to the price movement, and a short -term rejection is imminent.

Nevertheless, the market could surprise the participants with a short-squeeze event and break impulsively beyond this resistance region.

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