XRP Withdraws: Is the Rally Over? (Ripple Price Analysis)

3. April 2023 Aus Von admin

• Ripple’s price has surged recently, following a breakout above the significant $0.43 resistance level.
• Warning signals are emerging as the price has been decisively rejected from the key $0.55 resistance level, and the RSI is showing a bearish divergence between the last two price highs.
• Against BTC, things look even worse as the price is seemingly dropping back inside the broken descending channel after being impulsively rejected from the 200-day moving average around 0.00002 SAT.

Recent Price Surge of Ripple

Ripple’s price has surged in recent weeks, following a breakout above the significant $0.43 resistance level. The 50-day and 200-day moving averages are located around this mark and are on the verge of a bullish crossover, with the 50-day moving average almost crossing over to the upside of its 200-day counterpart.

Warning Signs Emerge

However, warning signs are emerging that may signal that it’s too early for bulls to celebrate an end to their bear market woes just yet. The price has been decisively rejected from its key $0.55 resistance level and displays a clear bearish divergence between its last two highs on its RSI indicator – indicating that we may be due for a correction soon if support at $0.43 fails to hold up against selling pressure.

XRP/BTC Analysis

Against Bitcoin (XRP/BTC), things look even worse as XRP is seemingly dropping back into its previously broken descending channel after being impulsively rejected from its 200-day Moving Average at 0.00002 SAT – essentially invalidating any potential breakouts if support at 0.000018 SAT fails to hold up against further selling pressure and sending XRP into deeper bear territory within this channel toward 0.000008 SAT or lower levels in time ahead if sentiment continues to sour amongst buyers here about future prospects for XRP prices in 2021 going forward still overall now still so far too here today still now already also already anyway so far yet still also so far too so far here today still now already also already anyway so far yet still also so far too .

Bear Market Not Over Yet?

The current technical analysis suggests that while Ripple had seen some success in breaking out of earlier resistances, it might be too early to conclude that we have seen an end to our longstanding bear market – especially considering how quickly bears have been able to reassert their dominance over our markets again once more now once again recently here again now recently lately in recent times lately just recently very recently only just most recently just lately all too often these days even right now only just most recently not long ago right away right offhand as well as soon enough quite soon actually pretty soon before very long eventually shortly without delay sooner or later momentarily in no time suddenly very quickly promptly almost immediately presently any minute shortly afterwards forthwith fairly soon almost immediately faster than expected nigh at hand instantly speedily shortly before long post haste anon .

Conclusion

In conclusion, Ripple had experienced some success with its recent surge above major resistances such as $0