XRP/BTC Faces Rejection At 50 Day EMA

Feb 2, 2020 at 11:11 PM
XRP/BTC has faced rejection at the 50 Day EMA. The pair is unlikely to break above any time soon considering the market is preparing to decline. Bitcoin is holding its ground for now but when it begins the next downtrend, Ripple is expected to fall harder against Bitcoin. 

Ripple has previously been in a similar spot and both those times we have seen a bear trend begin after the price had faced rejection at the 50 EMA against Bitcoin. We are now expecting something similar this time which would be surprising for most retail bulls just before the next halving. 

XRP/USD is in a similar spot and the next decline would lead to a break below a key descending triangle. We can see on the daily chart for XRP/BTC that the MACD might be about to see a bearish crossover. %K has declined below %K and the RSI is ready to face a trend line resistance that could push it lower in the days and weeks ahead. 
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