XRP coin recovery rally challenges a cluster of resistances aligned $0.78 level. Can buyers undermine the overhead supply for uptrend resumption? Key technical points: The daily-RSI slope entering the bullish territory The XRP coin price has ascended by 15% within the last four days Finally, the 24-hour trading volume of Ripple is $2.8 Billion, marking a 67% rise. Past Performance of XRP Despite high volatility in the crypto market, the XRP/USDT pair actively responded to the rising trendline for the past two months. The bullish recovery spiked the coin price to a $0.93 high, reflecting a 33.51% from the $0.7 support. However, the recent sell-off in the crypto market reverted the altcoin from the $0.93 mark and plummeted it to the 0.618 Fibonacci retracement level. Source-Tradingview XRP Technical Analysis The XRP coin price bounced back from 0.618 FIB level with four consecutive green candles. The post-correction rally soared 14.5% and hit the $0.785 resistance aligned with the 0.382 FIB level. A cluster of EMAs(20, 50, and 100) near the $0.8-0.79 resistance zone mounts an intense supply pressure for the XRP traders. Moreover, the altcoin trading below these EMAs indicates trend control in sellers’ hands. RSI Indicator: Amid the recent recovery, the RSI slope rebounded from the 33% mark and pumped to the midline. A simultaneous breakout of $0.8 resistance and RSI slope from midline gives an additional confirmation for bullish...
