XRP Faces Crucial Resistance at $0.65 – Here’s Why

The XRP price recently encountered resistance at the golden ratio level of around $0.65, experiencing a bearish rejection at this crucial Fibonacci resistance.

This rejection signals a challenging period ahead for Ripple’s price trajectory.

XRP Price Downtrend?

A few days ago, the XRP price approached the crucial golden ratio resistance at $0.65, but it faced a bearish rejection after several unsuccessful attempts to break through. Consequently, XRP retreated to find support near the golden ratio at $0.55, from which it saw a bullish rebound.

Notably, a golden crossover has emerged in the daily chart, signaling a bullish trend in the short to medium term.

XRP Price Chart. Source: Tradingview

However, the moving average convergence/divergence (MACD) histogram has been declining bearishly since yesterday, despite the MACD lines maintaining a bullish crossover while the Relative Strength Index (RSI) remains neutral.

XRP’s 4H Chart: Golden Crossover

A golden crossover has occurred in XRP’s 4H chart, affirming a short-term bullish trend, although the MACD lines remain bearishly crossed. Despite this, the RSI is neutral, and the MACD histogram shows bullish momentum.

However, XRP faces resistance at the 50-4H-EMA around $0.608, hindering its progress.

XRP Price Chart. Source: Tradingview

As a result, XRP may retreat to find support near the golden ratio at $0.55 unless it successfully clears the golden ratio resistance at $0.65 to end the correction.

Ripple’s Weekly Chart: Bullish Indicators

In XRP’s weekly chart, a golden crossover signals a bullish trend for the medium term, supported by an upward trend in the MACD histogram. Although the MACD lines are on the verge of a bullish crossover, the RSI remains neutral.

Breaking the Golden Ratio resistance at $0.65 could lead XRP towards significant Fibonacci resistance at $0.75, with further resistance at $0.923.

XRP Price Chart. Source: Tradingview

Conversely, if XRP retreats, it may find support near the golden ratio at $0.54, where the 50-week EMA also lies.

Ripple’s Monthly Chart: MACD Shows Bullish Trend

In the monthly chart, XRP indicators lean towards bullishness with a neutral RSI and bullish crossover in the MACD lines, accompanied by an uptrend in the MACD histogram.

XRP Price Chart. Source: Tradingview

This upward movement has persisted for months, but XRP has yet to witness a definitive bullish trend reversal. Breaking the golden ratio resistance at approximately $1.35 is crucial to achieve this.

XRP Price Remains Bearish Against Bitcoin

Ripple’s price is experiencing a notable downtrend against BTC, with the next significant support level for XRP price estimated at around 0.0000062 BTC.

XRP/BTC Price Chart. Source: Tradingview

Moreover, in the monthly chart, bearish signals are evident as the MACD lines have crossed negatively, and the MACD histogram displays a growing bearish inclination while the RSI remains in neutral territory.

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