$XRP Recovery Run - CoinPedia Analytics

In the daily chart, the XRP price action reveals a recovery rally in motion. Currently, the XRP price is trading at $0.5657 with an intraday gain of 0.53%. This comes after the 5.20% jump last night, rating a bullish engulfing candle. In the daily chart, the recovery run marks a new lower-low formation, a bullish turnaround from a new lower-low formation in the short term. Furthermore, the XRP price is on the verge of reclaiming the 50% Fibonacci level at $0.5707. 

In the daily chart, the bullish turnaround finds resistance at the 50% Fibonacci level. A bullish breakout above this level will find resistance at 61.80% and 78.60% Fibonacci levels at $0.60 and $0.65, respectively. On the flip side, the crucial resistance remains at $0.5347 and the $0.50 psychological mark. In case of a bullish failure, a sideways trend between the 38.20% and 50% Fibonacci levels.