XRP continues to face challenges as it struggles to break above the 20-day Exponential Moving Average (EMA), a key resistance level that has been pivotal in recent trading sessions. The source reports that traders are closely monitoring this level for potential breakout signals.
XRP Price Analysis
The price of XRP has consistently failed to surpass the 20-day EMA, indicating ongoing downward pressure. Analysts emphasize that this resistance level is crucial for any potential upward movement in the cryptocurrency's price.
Market Outlook
Until XRP can close above the 20-day EMA, traders are advised to exercise caution and closely monitor market conditions for signs of a trend reversal.
As XRP struggles to break above the 20-day EMA, Ripple has seen a surge in trading activity around the critical level of 200, driven by increased ETF inflows. For more details, read more.
