XRP Ripple price analysis April 5, 2023

XRPUSDT

On April 3, XRP fell below the 38.2% Fibonacci retracement level of $0.49. However, the long tail on the candlestick indicates that buying at lower levels was strong.

The bulls attempted to push the price towards the overhead resistance at $0.56 on April 4, but sellers challenged them at $0.53, as seen from the long wick on the April 5 candlestick.

If the price falls further, the bears may try to drive it below the 20-day EMA ($0.47), and if they succeed, the XRP/USDT pair may decline to $0.43.

Conversely, if buyers are able to push the price above the overhead resistance zone of $0.56 to $0.58, the pair may surge to $0.65 and then to $0.80.