🚀 XRP Flashes Multiple Buy Signals — Is $2.50 the Next Stop
koinmilyoner
Updated at: 10 hours ago
{"content":"🚀 XRP Flashes Multiple Buy Signals — Is $2.50 the Next Stop?
After Thursday's 9% slide breached the 200-day EMA, XRP recovers above $2.16.
US unemployment held at 4.2% in May, with 139,000 jobs created over expectations.
Multiple technical sell indications suggest XRP is still vulnerable.
After a Thursday flash sell-off that dropped crypto market capitalization 4% to $3.4 trillion, Ripple (XRP) rises. XRP fell 9% on Thursday but rebounded to $2.17 on Friday. Bulls are targeting $2.50 on rising mood, which might extend until the weekend.
XRP shows signs of a long-term revival as US employment rise 139,000.
May saw 139,000 US employment increases, above predictions of 130,000. Considering the dip in jobs created in May from 147,000 in April, the Bureau of Labor Statistics (BLS) Nonfarm Payrolls data issued on Friday shows the labor market continues to grind slowly.
The unemployment rate stayed around record lows at 4.2%. Despite the stable forecast, the US economy looks to be slowing, which might affect the Fed's interest rate decision later this month.
Fed Chairman Jerome Powell has warned that President Donald Trump's tariffs might hurt economic growth and inflation.
The cryptocurrency market has wobbled in recent weeks amid trade tensions and fears about US tariffs, especially after a judge stopped their implementation. Although an appeals court allowed the Justice Department's request to keep tariffs in place awaiting settlement, global commerce remains uncertain.
XRP is trading at $2.17, above the 200-day Exponential Moving Average (EMA) at $2.08. With the Relative Strength Index (RSI) neutral as it approaches the 50 midline, the Thursday flash crash recovery seems to be continuing into the weekend.
A convergence of the 50-day and 100-day EMAs around $2.26 might slow XRP's rise. If broken, traders will extend by 15% to $2.50 and maybe reach the psychological supply zone around $3.00, depending on market attitude in the next days and weeks.
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