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Technical Forecast: XRP is about to break out
The price of XRP has risen, hovering around 2.28 USD at the time of writing this report. This increase follows the establishment of support at 2.09 USD, bolstered by its (EMA) two-hundred-day exponential moving average.

The main indicators, including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), provide positive technical signals. A return of the Relative Strength Index above the midline of 50 indicates positive momentum, and XRP price is likely to remain stable in the upcoming sessions.

The MACD indicator is likely to show a buy signal if the blue MACD line crosses above the red signal line. Traders can also monitor the movement of the indicator, with a recovery towards the average line coinciding with the expansion of the green histogram bars, which may trigger a breakout of the descending channel, as shown on the daily chart.

The convergence of the 50-day exponential moving average with the 100-day exponential moving average at $2.25 serves as a short-term support. Traders are looking for a daily close above this level to confirm the strength of the bullish trend. Meanwhile, a breakout of the descending channel resistance may reinforce momentum with an increase in trading volume.

The main areas of interest in the future include a level of $2.65, a seller congestion of 17% above the current level, and the elusive target at $3.00, which represents a move of 32% above the prevailing market value.
BTC1.71%
XRP-2.47%
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GateUser-cbca811bvip
· 06-18 18:11
1000x atmosphere coming 🤑
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