XRP price analysis: correction or imminent upward movement?

XRP price analysis: correction or imminent upward movement?

According to a report by de.beincrypto.com, the XRP price seems to initiate a corrective movement.

Ripple price was able to overcome the 0.382 Fib resistance at around $0.6275 and target the golden ratio at around $0.75. However, the day is bearish today, which raises the question of whether Ripple will correct now or whether a trend-reversing move is imminent.

In terms of price action, Ripple has only risen to $0.733 so far after clearing the 0.382 Fib resistance. The Golden Ratio resistance at around $0.75 has not yet been reached. Furthermore, several indicators suggest that a correction could be imminent, including the day's bearish behavior, the MACD histogram, and the RSI's position in overbought regions.

If XRP now corrects, the next significant Fibonacci supports can be found at around USD 0.5635 and around USD 0.45. From there, the price could rebound bullishly to continue the upward movement.

In the 4H chart there is also a possible bearish tendency, while in the weekly chart the indicators appear clearly bullish. Despite the current bearish trend in the smaller time frames, Ripple has gained almost 60% since October and has been in a strong upward movement since the summer of last year.

Against Bitcoin, Ripple is facing significant golden ratio resistance at around 0.000021 BTC. If this is broken, further resistance could await at around 0.0000237 BTC and around 0.000029 BTC.

Overall, uncertainty in the market is increasing as different indicators behave differently in different time periods. Further developments will largely depend on whether Ripple can overcome the golden ratio resistance at around USD 0.75 or whether it can initiate a corrective movement.

The information shows that the XRP market is currently at a crossroads and a crucial phase could be approaching that will influence further price developments.