Will bulls of XRP be able to influence the trend to $3?

Traders were prompted to seek exposure to the cross-border money remittance token as a result of the fact that XRP had steadied at the time of writing on Monday. This was due to the fact that support near $2.00 had decreased the risks of a decline over the weekend. It is confirmed that the bullish perspective is correct when the Moving Average Convergence Divergence (MACD) indicator generates a purchase signal in conjunction with the green histograms.

In addition, rather of going all in on XRP, prudent traders can wait until the MACD indicator crosses over the middle line before making their investment. On the other hand, it is important to take note of the fact that the Relative Strength Index (RSI) has lately broken through the resistance of the falling trendline, which indicates that the bulls are beginning to get the upper hand.

It is possible that traders will want to pay attention to other important levels, such as the resistance that is provided by the Exponential Moving Averages (EMA) of 50 and 100 days at $2.22, the support that is located at $2.00, and the 200-day EMA that is located at $1.96. The road that would lead to $3.00 would be the one that presents the least amount of resistance if the two obstacles were overcome.

However, if support is lost around $2.00, it might hasten the decline to the 200-day exponential moving average, which is located at $1.96. In the event that there is more volatility, the price of XRP may fall to retest the lowest level it reached in April, which was $1.62. This would result in liquidations and profit-taking.

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