Over the past 24 hours, the
$XRP coin has seen significant fluctuations, with the price
ranging between $2.25 and $2.49. Currently, the price is
2.44, slightly up from the previous close.
Technical Analysis:
Moving Averages:
7-Day Moving Average (EMA 7): $0.7521.
25-Day Moving Average (EMA 25): $0.6112.
The intersection of these averages indicates a short-term bullish trend.
Relative Strength Index (RSI):
RSI (6): 59.2137,
which indicates a level close to the neutral zone but slightly bullish.
MACD Indicator (MACD):
DIF: 0.0232.
DEA: 0.0222.
The trend is slightly bullish.
Forecast for the next 24 hours:
Bullish scenario:
If the price manages to break the resistance level at $2.49 with stability and high trading volume, it may target the levels of $2.60 and $2.70.
Bearish scenario:
In case the resistance is not able to be broken, the price may witness a correction towards the support levels at $2.35 and $2.25.
Recommendations:
Buy:
Any correction of the price towards $2.35.
Sell:
First target: $2.60.
Second target: $2.70.
Stop loss:
When the level of $2.25 is broken.
Note: Financial markets, especially cryptocurrencies, are witnessing high volatility. It is always advisable to conduct independent research and consult financial experts before making investment decisions