Despite its 17.3% year-to-date (YTD) increase, the XRP price remains in bearish territory. In the past two weeks, XRP failed to break the 200-day Exponential Moving Average (EMA) in several attempts.
At press time, XRP was trading at $0.3970 and found support at the 50- and 100-day EMAs. However, to trigger a bullish momentum, it requires a break of the 200-day EMA, which is currently at $0.4147. The indicator shows the long-term trend, and a breach of this level could spark a bullish move.
Meanwhile, the upside crossing of the 50-day EMA by the 200-day EMA should also be watched. Currently, the 50-day EMA is approaching the 200-day EMA, and the upward crossover, also known as a golden cross, could also establish a new uptrend.
If this happens, the main bastion of the bears could then be …