Ripple (XRP) attempts to climb toward $0.65 might hit significant roadblocks. Currently, XRP hovers around $0.53 following a recent increase from $0.50. However, indicators suggest higher values may remain out of reach.
Analysis of the daily chart shows a supply zone around $0.57, a critical level XRP has struggled to overcome due to intense selling pressure. The Parabolic Stop-and-Reverse (SAR) indicator also places resistance between $0.57 and $0.63, suggesting a bearish outlook.
Furthermore, the Bull Bear Power (BBP) indicator shows selling pressure dominating, hindering XRP's growth. The Awesome Oscillator (AO) has formed a bearish twin peak pattern, further signaling a potential downtrend to $0.48.
While a break above $0.57 could invalidate this bearish trend, allowing XRP to reach $0.65, the current indicators suggest otherwise.
