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#BTC #XRPBullishOrBearish? XRP
Technical outlook: The risks of a decline in XRP may increase.
XRP is currently trading below the recently broken support level, which now represents a short-term resistance at around $2.26. This barrier combines the (EMA) for the 50-day exponential moving average and the 50-day exponential moving average, forming a confluence point.
If the XRP price closes below the convergence resistance of currencies, the downside risks may escalate, potentially extending the decline by 7% to the next key support provided by the 200-day exponential moving average at $2.09.
The Relative Strength Index (RSI) has slightly retreated below the midpoint line of 50 from its recent highs around 54, indicating that the downward momentum is increasing.
However, traders may want to temper their bearish expectations, as the Moving Average Convergence Divergence (MACD) ( has maintained a buy signal since Monday. This signal is manifested by the blue MACD line crossing above the red signal line.
The MACD buy signal is capable of encouraging traders to continue buying XRP, which strengthens support for the token and increases the likelihood of it breaking through the downward channel shown on the chart. Key areas of interest for traders include seller congestion at $2.34, $2.50, and $2.65.