The recent XRP price movement encountered a significant bearish rejection around the crucial golden ratio level of approximately $0.75, leading to a corrective phase in Ripple's value.

The pressing question now is the extent of this decline and whether the corrective movement is expected to persist.

XRP's Weekly Chart Signals Bearish Trends

While maintaining a bullish medium-term trend with a golden crossover, the weekly chart reveals emerging bearish signals, particularly with the MACD lines approaching a potential bearish crossover. Additionally, the MACD histogram indicates a downward trend this week.

Maintaining support around $0.52, backed by Fibonacci levels and the 50-month Exponential Moving Average (EMA), is crucial for Ripple to sustain its bullish momentum.

XRP Price Faces Neutral RSI Amidst Bearish Indicators

Currently, the Relative Strength Index (RSI) remains neutral across various timeframes, providing no definitive bullish or bearish signals. Ripple has the potential for a bullish rebound from the golden ratio support level around $0.52, supported by the 50-week and 200-week Exponential Moving Averages (EMAs).

Daily Chart Shows Mixed Signals

On the daily chart, the bullish trend is confirmed by the golden crossover of the EMAs, although the MACD lines have crossed bearishly, accompanied by a downward trend in the MACD histogram. Despite these conflicting indicators, the RSI remains in neutral territory.

Warning Signs on 4-Hour Chart

In the 4-hour chart, the MACD lines have crossed bearishly, with a downward trend in the MACD histogram, indicating potential short-term bearishness. The RSI is currently neutral. Additionally, there's a looming possibility of the EMAs forming a death cross, further confirming a short-term bearish trend. Consequently, the price has already seen a decline of over 22%.

XRP Price Descending Against Bitcoin

Similar bearish signals are observed in the 4-hour chart against Bitcoin, with the MACD lines crossing bearishly and the RSI remaining neutral. The potential formation of a death cross in the EMAs further suggests a short-term bearish outlook, contributing to a decline of over 22% in price.