XRPUSDT
In the past few days, XRP has shown relatively strong performance as the bulls have successfully maintained the price above the moving averages. To initiate the next phase of the uptrend, buyers will need to overcome the obstacle at $0.56. If they succeed, the XRP/USDT pair could rise towards $0.65.
However, this task may not be easy as bears are likely to vigorously defend the $0.56 level. A dip below the 20-day EMA ($0.50) could indicate a weakening grip by the bulls, potentially causing the pair to slump towards the 50-day SMA ($0.47), an important level to monitor. If the price bounces back from this level, the pair may oscillate between the 50-day SMA and $0.56 for a few days.
