Strong

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/xrp-price-analysis-strong-at-50-day-ema-xrp-finds-footing-to-restart-the-bull-run/">XRP Price Analysis: Strong At 50-day EMA, XRP Finds Footing To Restart The Bull Run!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
As the hype around the SEC case fades, the cooldown in the XRP price rally turns into a correction phase. The Fibonacci level displays a correction of more than 50% of the bullish candle formed, with a 73% jump on the day of the ruling.&nbsp; 
Maintaining a sideways trend with the support of the 50-day EMA, the XRP price trend struggles to find a solid footing. The Ripple market value is 23% down in the last 25 days from the previous swing high of $0.82.&nbsp; 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh6.googleusercontent.com/Q7JCZqRTz8CjPcbAwU3atHKwVv4SrSzq9e7Vg_wB9IrLe2_WZO_tWQNOnTgG_Rdu0eE-7hhvnO4AQETyn-JZf2ot_eCElWzNzJH7HS74mKDqIJWv6XsB4hvz3DagnzIBZBLJ4D42sTNPOeu4z2ANjU4" alt=""> 
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Following the partial win for XRP, the SEC appeals the court decision, increasing the threat of another legal battle for Ripple Labs.&nbsp; 
<blockquote class="wp-block-quote"> 
 With the lack of clarity in regulatory matters, crypto enthusiasts like Mr. Huber ask, “<a href="https://coinpedia.org/news/did-ethereum-investors-bribe-the-sec-how-is-this-connected-to-ripple/" rel="noopener noreferrer nofollow">Is SEC taking bribes?</a>” 
</blockquote> 
However, a brief pause in the correction rally brings a reversal opportunity and a great entry spot for XRP investors. With multiple lower price rejections, XRP price sustains above the 61.80 Fibonacci level and is buoyant above the 50-day EMA.&nbsp; 
With a potential double bottom forming at the 50-day EMA and the possible morning star pattern, the XRP price sets a launchpad.&nbsp; 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh4.googleusercontent.com/H8SyfVmxQHP7Ev57Usq2YHbzuReN-pHaSFzLtajTDrqDJpYgb17D8vWJdqNsFPsOFd5MmIw28gZUo_8aDK1r10X8pKr0t0Aj9UYyXLOWbXSXjNqx-kobZe7z7ZyMn1ew0PRUToYFIU2p3HTTAeHRftQ" alt=""> 
</figure> 
Coming to the technical indicators, the RSI and Stochastic RSI showcase a bullish divergence with a positive crossover in the latter. Moreover, the MACD indicator shows a declining trend in bearish histograms and hints at a bullish crossover.&nbsp; 
If the XRP price manages to sustain above the 50% Fibonacci level at $0.64, the reversal rally can reach $0.70. On the flip side, a fall below the 50-day EMA will challenge bullish dominance at 100-day EMA ($0.47).&nbsp;

XRP Price Analysis: Strong At 50-day EMA, XRP Finds Footing To Restart The Bull Run!

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