- Ripple price loses over 7% of the accrued gains in 24 hours, revisiting support at $1.1.
XRP must surmount the resistance at $1.4 and $1.6 to pave the way for an upswing to $2.
The could flip anytime as the 12-day crosses below the 26-day .
Ripple closed last week at $1.35, a move that had spurred investor interest and speculation for gains to $2. Nevertheless, a correction occurred with XRP losing some ground toward $1. Support at $1.1 plays a crucial role in ensuring that losses were mitigated, but data by CoinGecko shows that Ripple is trading 7.4% lower in 24 hours.
Ripple Price Recoils After Support At $1.1
The cross-border money transfer token currently teeters at $1.2 as bulls focus on lifting above $1.4 in the near term. According to the ( ), bulls could have salvaged the situation, preventing continued correction.
Intriguingly, the 50 ( ) may cross above the 200 in the coming sessions, as per the 12 hours chart. Although this indicator is not a golden cross, it often ascertains a move north. Therefore, it could trigger another firm grip as buyers take on $1.4 and $1.6 barriers.
It is worth mentioning that traders should be aware Ripple’s anticipated upswing may fail to occur, especially if the Moving Average Convergence Divergence ( ) indicator flips in the coming sessions. According to the exact timeframe, a sell signal is in the offing. The odds for an extended correction would increase as soon as the 12-day ( ) crosses below the 26-day .
The tracks Ripple’s trend and calculates its momentum. A move toward the mean line reinforced the outlook. Hence, it is one of the most crucial trend indicators, especially when identifying entry and exit positions.
Ripple Intraday Levels
Spot rate: $1.21
Resistance: $1.4 and $1.6
Support: $1.1 and $1