Ripple (XRP) has skyrocketed 181.38% in the past 30 days, demonstrating strong market momentum. After reaching $1.63, XRP is consolidating, with RSI at an average of 53.2, indicating balanced market conditions.
If the bullish momentum continues, XRP could retest $1.63 and move towards $1.70, its highest level since 2018. However, the bearish trend could push the price down to $1.27 or even 1.05 USD.
XRP Is Now In The Neutral Zone
XRP’s RSI is currently at 53.2, reflecting neutral momentum following the recent price increase. RSI, or Relative Strength Index, measures the speed and extent of price movements on a scale of 0 to 100.
Values above 70 indicate overbought conditions, often signaling a possible bearish correction, while values below 30 suggest oversold conditions, suggesting the potential for a recovery. XRP’s RSI crossed 70 between November 21 and 23, during a rally to $1.63, highlighting its overbought condition at the time.
At 53.2, XRP’s RSI points to softening bullish momentum but does not yet signal a reversal. This neutral level suggests the coin is consolidating following recent gains, leaving space for further gains if buying pressure returns.
However, if RSI is trending downward, it could indicate weakening sentiment, potentially leading to a price correction.
CMF of Ripple Transcription
Ripple’s CMF is currently negative -0.05, down from 0.10 when the price peaked at $1.63 a week ago, reflecting a decline in capital flows. CMF, or Chaikin Money Flow, measures capital flows by volume in and out of assets, with positive values indicating buying pressure and negative values indicating selling dominance.
The decrease in negative territory shows that selling pressure is beginning to overwhelm buying activities, although not yet significantly.
At -0.05, XRP’s CMF points to slightly bearish sentiment but remains above the -0.15 level on November 21. This shows that although selling pressure is increasing, it is not as strong as in previous waves. previously adjusted.
If CMF continues to decline, it could hint at broader selling and the possibility of further declines in XRP prices.
Ripple Price Prediction: Can It Return to 2018 Levels?
XRP’s EMA remains bullish, with the short-term lines above the long-term ones, signaling a continued uptrend. However, the narrowing gap between the lines indicates a weakening of bullish momentum, indicating a possible trend reversal.
If a downtrend emerges, Ripple price could test the strong support at $1.27. If this level fails to hold, the price could fall as deep as $1.05, reflecting a more significant correction.
On the other hand, if buying pressure increases and a new uptrend forms, XRP price could retest the recent high of $1.63. Breaking this level could push the price to $1.70, marking the highest value since 2018.