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Tuesday saw a 0.54% decline in XRP. XRP finished the day at $0.4757, partially reversing a Monday gain of 2.14%. Significantly, for the fourth time in five sessions, XRP failed to reach the $0.48 level.

XRP Price Movement

XRP was trading at $0.4754 at the time of writing, down 0.06%. XRP rose to an early high of $0.4758 before dropping to a low of $0.4750 during the day's range-bound opening.

The Daily Chart

The Daily Chart showed XRP/USD sitting below the 50-day EMA ($0.4818) while holding above the 200-day EMA ($0.4579), sending near-term bearish but bullish longer-term signals.

Notably, the 50-day EMA shrunk to the 200-day EMA and represented near-term negative momentum.

XRP/USD skirted the top of the $0.4675 to $0.4615 support area despite the negative Tuesday session to keep the 50-day EMA ($0.4819) in sight. The bulls would have a run at the bottom level of the $0.4925-$0.5000 resistance area with a move through the 50-day EMA.

However, if the 50-day EMA is not crossed, the 200-day EMA ($0.4579) and the support range of $0.4675 to $0.4615 would remain in sight.

Indicating a mildly bearish trend and lined with the 50-day EMA, the 14-Daily RSI reading of 47.02 supported a decline through the $0.4675-$0.4615 support range to challenge the 200-day EMA ($0.4579).

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