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XRP Technical Outlook: Bulls Eye Recovery Above Key Levels
XRP trades around $2.84-85, clinging to support at the 100-day EMA after Monday’s dip to $2.68. Buyers are attempting to reclaim momentum, with the RSI bouncing from oversold territory and now printing 41.
A decisive daily close above the 100-day EMA would strengthen bullish sentiment, potentially paving the way for a retest of the 50-day EMA at $2.95. Breaking this barrier could open the door to the $3.00 psychological mark.
Failure to defend the 100-day EMA, however, risks renewed weakness, exposing support near $2.70 and, in an extended sell-off, the 200-day EMA at $2.597.
Meanwhile, traders should keep a close eye on the MACD. A bullish crossover, where the blue MACD line rises above the red signal line, would confirm a buy setup. Until then, the indicator continues flashing a bearish tone.
#XRP#
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#Crypto Market Pullback#