Ripple bulls aim for $2.72 mark
Ripple price broke above its 100-day EMA at $2.32 last week and recovered almost 7%. However, XRP consolidated around its $2.44 level in the last two days. At the time of writing on Wednesday, it hovers around $2.44.
If the 100-day EMA around $2.32 continues to hold, it could extend the recovery to retest its next resistance level at $2.72.
The RSI on the daily chart reads 52, hovering around the neutral level of 50, indicating indecisiveness among the traders. The RSI must point upward and move above its neutral level of 50 to sustain the bullish momentum. The MACD indicator showed a bullish crossover on the daily chart last week, giving a buy signal and suggesting a bullish trend ahead.
On the other hand, if XRP fails to find support around its 100-day EMA and closes below, it could extend an additional decline to test its next support level at $1.96.
