XRP faces resistance below the 50-Day EMA despite improving momentum
Key takeaways
- XRP continues to trade below its 50-day EMA, keeping the short-term trend bearish.
- Momentum indicators are improving, with the MACD turning more positive and the RSI rising to around 55.
- A break above $1.15 could strengthen the recovery, while failure to do so may trigger another pullback.
Ripple’s native token, XRP, remained under pressure on Thursday, extending its corrective phase as it traded below the 50-day Exponential Moving Average (EMA).
Although the cryptocurrency has rebounded from recent lows, buyers continue to face strong resistance that has limited the recovery.
The current technical setup suggests that while bullish momentum is gradually improving, XRP has yet to confirm a sustained trend reversal.
50-Day EMA continues to cap upside
XRP is currently trading below the 50-day EMA at $1.1458, while remaining well beneath the 200-day EMA at $1.4425.
These moving averages continue to act as significant resistance levels, preventing the token from building stronger upward momentum.
… Continue reading the full article at the original source below.
