BeyOglu - The Analyst
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XRP technicals could flip bullish on one condition
$XRP sits above $2.00, a support that the token respected on February 28 and March 11, 2025. Traders will require confirmation that this level is strong enough to hold and limit downside exposure to book more long positions in the next few days.
The Relative Strength Index (RSI) is higher than the previous day’s low of 35. However, it must extend from 42 (its current position), above the trendline resistance, to validate a sustainable XRP recovery to $2.50 and $3.00, respectively.
The Moving Average Convergence Divergence (MACD) stuck below the meanline points to the apparent sell-side pressure. However, traders should consider watching out for a confirmed buy signal if the MACD crosses above the moving average and starts moving aggressively upwards.
Investors may want to consider Santiment’s Market Value Realized Value (MVRV) ratio as a buy signal. In the chart below, the MVRV sits 27.44% below XRP’s intrinsic value.
In other words, many investors are holding the asset at a loss and are unlikely to sell as they would realize a loss. As this may translate to reduced selling pressure, XRP bulls could find room to wiggle, breaking through and pushing for drastic recovery.
Note: This is not a financial advice.
#beyoglu #XRP
The Relative Strength Index (RSI) is higher than the previous day’s low of 35. However, it must extend from 42 (its current position), above the trendline resistance, to validate a sustainable XRP recovery to $2.50 and $3.00, respectively.
The Moving Average Convergence Divergence (MACD) stuck below the meanline points to the apparent sell-side pressure. However, traders should consider watching out for a confirmed buy signal if the MACD crosses above the moving average and starts moving aggressively upwards.
Investors may want to consider Santiment’s Market Value Realized Value (MVRV) ratio as a buy signal. In the chart below, the MVRV sits 27.44% below XRP’s intrinsic value.
In other words, many investors are holding the asset at a loss and are unlikely to sell as they would realize a loss. As this may translate to reduced selling pressure, XRP bulls could find room to wiggle, breaking through and pushing for drastic recovery.
Note: This is not a financial advice.
#beyoglu #XRP
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