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XRP Price Rejected at Golden Ratio: What’s Next?


The XRP price has recently encountered a bearish rejection once more at the critical golden ratio level, approximately valued at $0.75. Subsequently, the price of Ripple has entered a corrective phase.

The question arises: To what extent will the Ripple price decline? Is the corrective movement anticipated to be prolonged?

XRP Price Faces Clear Rejection at Golden Ratio Level

This month, the XRP price approached the critical golden ratio resistance level at approximately $0.75. However, it faced substantial rejection at this juncture.

Consequently, the histogram of the Moving Average Convergence Divergence (MACD) is displaying a bearish trend despite the MACD lines maintaining a bullish crossing. The Relative Strength Index (RSI) remains neutral.

XRP/USD Chart Analysis BeInCrypto
XRP Price Chart. Source: Tradingview

Currently, XRP is encountering substantial Fibonacci support, situated around $0.52. Additionally, the 50-month Exponential Moving Average (EMA) provides supplementary support at this level.

Read More: How To Buy XRP and Everything You Need To Know

Weekly Chart Analysis: XRP Price Sends Bearish Signals

In the weekly chart, bearish signals are emerging among the indicators. While a golden crossover persists, affirming a bullish medium-term trend, the MACD lines are on the brink of a bearish crossover. Furthermore, the MACD histogram displays a downward trend this week.

Meanwhile, the RSI remains neutral, offering no clear bullish or bearish indications. Nevertheless, Ripple has an opportunity to potentially rebound bullishly from the golden ratio support level around $0.52.

XRP Price Chart. Source: Tradingview
XRP Price Chart. Source: Tradingview

At this juncture, the 50-week and 200-week EMAs serve as supplementary supports.

Daily Chart Confirms Bullish Trend for XRP Price

In the daily chart, the bullish trend remains confirmed by the golden crossover of the EMAs. However, bearish indications arise as the MACD lines have crossed in a bearish manner, with the MACD histogram trending downwards.

XRP Price Chart.
XRP Price Chart. Source: Tradingview

Meanwhile, the RSI is situated in neutral territory, providing neither bullish nor bearish signals.

Watch Out: Death Cross Looms on 4H Chart

In the 4-hour chart, the MACD lines have crossed bearishly, accompanied by a downward trend in the MACD histogram. The RSI is currently situated in neutral territory.

Read More: How to Sell Ripple

XRP/USD Chart Analysis BeInCrypto
XRP Price Chart. Source: Tradingview

Moreover, there is a possibility of the EMAs forming a death cross soon, which would confirm a bearish trend in the short term. As a result, the price has already experienced a decline of over 22%

XRP Price Descending Against Bitcoin

In the 4-hour chart, the MACD lines have crossed bearishly, accompanied by a downward trend in the MACD histogram. The RSI is currently situated in neutral territory.

XRP/BTC Price Chart
XRP/BTC Price Chart.Source: Tradingview

Moreover, there is a possibility of the EMAs forming a death cross soon, which would confirm a bearish trend in the short term. As a result, the price has already experienced a decline of over 22%.

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Disclaimer

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Conclusion

In conclusion, the XRP price has faced a clear rejection at the critical golden ratio level of $0.75, leading to a corrective phase in its movement. The MACD indicators are showing bearish trends, with the potential for further decline in price. However, there is substantial Fibonacci support at around $0.52, along with support from the 50-month Exponential Moving Average (EMA). The weekly chart shows mixed signals, with a bullish medium-term trend but bearish crossover possibilities in the MACD. In the daily chart, the bullish trend is confirmed, but bearish crossovers in the MACD indicate a potential short-term decline. Overall, caution is advised as the XRP price faces uncertainty in its movement.

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