XRP price currently auctions at $0.47 as the bulls have managed to breach the 8-day exponential moving average and are now testing it as support. On the week, the digital remittance token is up 5%. At the time of writing, the technicals suggest XRP has one more upswing near the $0.50 zone before facing stronger bearish pressure.

The next hurdle for the bulls to accomplish will be the 21-day simple moving average, currently positioned at $0.48. The Relative Strength Index confounds the idea of Ripple's uptrend potential as the indicator hovers above both moving averages in supportive bullish territory.

Invalidation of the bullish thesis targeting $0.50 could happen if the bears breach the candle pierced through the 8-day exponential moving average at $0.456. If the bears manage to tag this level, an additional decline targeting October swing lows at $0.42 could occur, resulting in a 10% decrease from the current market value

On the week, the digital remittance token is up 5%. At the time of writing, the technicals suggest XRP has one more upswing near the $0.50 zone before facing stronger bearish pressure.

Ripple holds below the 50% fibo first time

Oct 28 2022

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