The XRP price recently encountered resistance at the golden ratio level of around $0.65, experiencing a bearish rejection at this crucial Fibonacci resistance.
This rejection signals a challenging period ahead for Ripple’s price trajectory.
XRP Price Downtrend?
A few days ago, the XRP price approached the crucial golden ratio resistance at $0.65, but it faced a bearish rejection after several unsuccessful attempts to break through. Consequently, XRP retreated to find support near the golden ratio at $0.55, from which it saw a bullish rebound.
Notably, a golden crossover has emerged in the daily chart, signaling a bullish trend in the short to medium term.
![XRP Faces Crucial Resistance at <img decoding=](https://www.bee.com/wp-content/uploads/2024/03/frc-b6869d8bc4c98ba258500396995b219f.png)
However, the moving average convergence/divergence (MACD) histogram has been declining bearishly since yesterday, despite the MACD lines maintaining a bullish crossover while the Relative Strength Index (RSI) remains neutral.
XRP’s 4H Chart: Golden Crossover
A golden crossover has occurred in XRP’s 4H chart, affirming a short-term bullish trend, although the MACD lines remain bearishly crossed. Despite this, the RSI is neutral, and the MACD histogram shows bullish momentum.
However, XRP faces resistance at the 50-4H-EMA around $0.608, hindering its progress.
![XRP Faces Crucial Resistance at <img decoding=](https://www.bee.com/wp-content/uploads/2024/03/frc-264dcf0c13a8d68667333e259f8673e4.png)
As a result, XRP may retreat to find support near the golden ratio at $0.55 unless it successfully clears the golden ratio resistance at $0.65 to end the correction.
Ripple’s Weekly Chart: Bullish Indicators
In XRP’s weekly chart, a golden crossover signals a bullish trend for the medium term, supported by an upward trend in the MACD histogram. Although the MACD lines are on the verge of a bullish crossover, the RSI remains neutral.
Breaking the Golden Ratio resistance at $0.65 could lead XRP towards significant Fibonacci resistance at $0.75, with further resistance at $0.923.
![XRP Faces Crucial Resistance at <img decoding=](https://www.bee.com/wp-content/uploads/2024/03/frc-103a3deb364f2ad095a0301d2da85cda.png)
Conversely, if XRP retreats, it may find support near the golden ratio at $0.54, where the 50-week EMA also lies.
Ripple’s Monthly Chart: MACD Shows Bullish Trend
In the monthly chart, XRP indicators lean towards bullishness with a neutral RSI and bullish crossover in the MACD lines, accompanied by an uptrend in the MACD histogram.
![XRP Faces Crucial Resistance at <img decoding=](https://www.bee.com/wp-content/uploads/2024/03/frc-a9ca9fddfe4410a6eb246d2e39507692.png)
This upward movement has persisted for months, but XRP has yet to witness a definitive bullish trend reversal. Breaking the golden ratio resistance at approximately $1.35 is crucial to achieve this.
XRP Price Remains Bearish Against Bitcoin
Ripple’s price is experiencing a notable downtrend against BTC, with the next significant support level for XRP price estimated at around 0.0000062 BTC.
![XRP Faces Crucial Resistance at <img decoding=](https://www.bee.com/wp-content/uploads/2024/03/frc-ce2d4b20fc95f06611ae52e842af9eb1.png)
Moreover, in the monthly chart, bearish signals are evident as the MACD lines have crossed negatively, and the MACD histogram displays a growing bearish inclination while the RSI remains in neutral territory.