🚀Cointelegraph: XRP price analysis
XRP’s pullback reached the 50-day SMA ($0.49) on July 12, where the bears sold aggressively, as seen from the long wick on the day’s candlestick.
If the price rebounds off $0.46, it will suggest a change in sentiment from selling on rallies to buying on dips. That will enhance the prospects of a break above the 50-day SMA. The XRP/USDT pair could then attempt a move to $0.53.
Conversely, if the price slips and maintains below $0.46, it will signal that the bears remain active at higher levels. The pair may then gradually decline toward the crucial support at $0.41. The bulls are expected to aggressively defend the $0.46 to $0.41 zone.
