XRP's near-term trajectory can be dictated by the b...
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
Meanwhile, buyers were yet to find a convincing close beyond the supply zone to establish a robust bullish narrative. A close above this level could aid the buyers in continuing their spree.Source: TradingView, XRP/USDT While the supply zone constricted the buying power, the altcoin marked a recovery above its 20 EMA and the 50 EMA . The current up-channel trajectory has propelled a test of this supply zone many times. The bulls might exploit weaknesses in this zone, especially with a bullish flag setup finding support near its EMAs.
Also, the Chaikin Money Flow marked lower peaks to depict a rather bullish divergence with price. Its immediate trendline support could reignite an uptick in buying volumes. Furthermore, the MACD lines maintained their bullish stance while swaying above the zero-mark.Given XRP’s bullish flip on the $0.36 support alongside the bullish flag setup and the CMF divergence, the buyers would aim to continue the gradual growth on the charts.
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