The price of XRP may be declining today, but bullish signals persist suggesting that the upward trend is likely to resume. The main signal is the convergence of the 50-day simple moving average (SMA) and the 150-day SMA, indicating that a bullish trend could prevail in the short term, which could lead to a strong rebound.
This signal arises as the DMI indicator also shows that the bulls are not relinquishing control of the market despite the reversal observed in the last 24 hours. The positive DI is rising while the negative DI is falling, demonstrating that the bulls have the advantage.
At the same time, the ADX indicator is tilting upward, indicating that the bullish trend that pushed Ripple's price from $2.24 to $3 in the last seven days continues. This could allow the rally to continue up to the Fibonacci level of 161.8% at $4.50.
However, for this bullish forecast to materialize, the price must overcome the resistance zone located between $3.05 and $3.16, and until XRP can close above this zone, buyers may hesitate to accumulate more tokens at the current price.