XRP’s Recovery: Signs of a Bullish Momentum Ahead
FenzoFx—The XRP downfall from $3.0 paused at $2.208 and began a mild bullish wave from $2.208. As of this writing, Ripple (XRP) trades at approximately $2.45, while the Awesome and the Stochastic oscillators are rising, signaling that bullish momentum should resume.
The immediate resistance is at $2.544. Interestingly, the 4-hour chart formed a ‘long upper shadow’ candlestick pattern, indicating bears’ power.
From a technical perspective, bulls must close and stabilize above $2.544 for the uptrend to continue. If this scenario unfolds, the 78.6% Fibonacci resistance level at $2.776 could be the next bullish target.
On the other hand, if $2.544 holds, XRP will likely retest the ascending trendline, followed by $2.208 as support.