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XRP Technical Analysis: Post-Retest Rally Challenges The 100-Day EMA

XRP Technical Analysis: Post-Retest Rally Challenges The 100-Day EMA


Cryptoknowmics
2022-09-20 13:26:31
XRP Technical Analysis: Post-Retest Rally Challenges The 100-Day EMA

The XRP technical analysis shows a post-retest reversal rally of a triangle breakout challenges the 100-day EMA, teasing a bull run ahead. The XRP price action bullish breakout rally of a symmetrical triangle reversing from the 100-day EMA to retest the breakout. Furthermore, the increase in intraday trading volume supports the post-retest reversal candle. Therefore, a likely uptrend teases the 100-day EMA breakout. So should you wait for a candle closing above the EMA or take an early entry to ride the upcoming rally? Key Points: The Ripple prices show a reversal from the broken trendline. The post-retest reversal shows potential to reach the $0.42 mark. The intraday trading volume in Ripple is $13.45 Million. Source-Tradingview XRP Technical Analysis The XRP price displays a bullish reversal within the triangle resulting in a bullish breakout mentioned in our previous analysis. The bullish breakout unleashes the trapped trend momentum resulting in a jump to the 100-day EMA, accounting for a 15% growth. However, a bearish turnaround from the 100-day EMA influences a retest phase coinciding with the weekend fall observed in the market. Nonetheless, the buyers regain trend control and form a bullish engulfing candle of 7.5%, closing above the 100-day EMA. Currently, the price action shows a power struggle close to the controversial EMA for the future trend. Today, the resurfacing bearish influence results in a 1.28% price drop,...

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