XRP/USDT 4HInterval check the shortterm situation
Hello everyone, I invite you to take a short-term look at the XRP chart this time on a four-hour interval. As we can see, the price, despite the general market correction, XRP remains above the local uptrend line.
Let's start by marking the places of support for the price and we see that we first have support at $0.50, but if the price goes lower, we have another support at $0.48, then at $0.46 and another support at $0.46 priced at $0.43.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently approaching the resistance at $0.52. We continue to have strong resistance at $0.54, once the price breaks it, it will move towards resistance at $0.55 and then $0.58.
As we can see, the price had a bigger drop, but quickly returned above the EMA Cross 200, thus maintaining the upward trend.
The CHOP index indicates that the energy is slowly gaining strength, the MACD indicates a return to the local uptrend, while the RSI has returned to the upper part of the range and it is worth watching here because when the indicator approaches the upper limit, we will see a correction on the xrp price.
Let's start by marking the places of support for the price and we see that we first have support at $0.50, but if the price goes lower, we have another support at $0.48, then at $0.46 and another support at $0.46 priced at $0.43.
Looking the other way, we can similarly determine the places of resistance that the price has to face. And here we see that the price is currently approaching the resistance at $0.52. We continue to have strong resistance at $0.54, once the price breaks it, it will move towards resistance at $0.55 and then $0.58.
As we can see, the price had a bigger drop, but quickly returned above the EMA Cross 200, thus maintaining the upward trend.
The CHOP index indicates that the energy is slowly gaining strength, the MACD indicates a return to the local uptrend, while the RSI has returned to the upper part of the range and it is worth watching here because when the indicator approaches the upper limit, we will see a correction on the xrp price.