XRP, BTC and ADA Price Analysis for June 28

XRP has failed; the reversal attempt began back on June 24. The asset has been gradually gaining some strength on the market but has failed to get past the 26 EMA, which shows that the current movement has no momentum nor strength behind it.

XRP has been attempting to reverse its downtrend since June 24, but its recent price action suggests that the rally might be fizzling out.

The second-largest cryptocurrency has been slowly gaining some strength in the market. However, XRP has failed to break past the 26 EMA, indicating that the current movement lacks momentum and strong buying pressure.

If the 26 EMA is not broken, it indicates that the bulls are not in control. The 26 EMA often acts as a significant resistance level.

Any price movement without a lot of volume is likely to be choppy and short-lived. The broader cryptocurrency market has seen volatility, with key assets like Ethereum and Bitcoin seeing declines.

In this environment, it is difficult for altcoins like XRP to gain traction. The overall bearish sentiment in the market is heavily impacting XRP's price action.

Looking at the RSI, XRP seems to be in a neutral zone as the indicator is currently in the 40-50 range. This suggests that XRP is neither overbought nor oversold.

The lack of significant momentum in either direction is supported by this neutral RSI reading. For a strong recovery, XRP needs to see an RSI move above 50, accompanied by rising volume and positive market sentiment.

If XRP fails to hold above the 26 EMA, we may see a retest of lower support levels. Another major support level is located at $0.46, which has historically acted as a floor for the asset.

If this support is broken, we could see a more significant decline in XRP, potentially testing even lower levels. However, a strong break above the 26 EMA with rising volume could indicate a possible reversal. XRP definitely needs more buyers.

Bitcoin price risks return as key support level is tested amid crypto sell-off

More sellers are putting the cryptocurrency market under pressure, and Bitcoin is no exception. Given the extreme volatility of the last few days, the price action of BTC must continue to hold above the $60,000 threshold.

The current state of the market is testing this level, which has historically provided strong support.

Several technical indicators suggest that Bitcoin may face difficulties ahead. The RSI in the 30-40 range suggests that Bitcoin is approaching the oversold territory.

In addition to reflecting the strong selling pressure that is currently driving the market, this may indicate a buying opportunity. It is also important to keep an eye on the moving averages, especially the 50-day and 200-day EMAs.

If Bitcoin manages to hold above $60,000, we could see a potential rebound. The first target would be the $65,000 resistance level which, if breached, could pave the way for a rally toward $70,000.

However, for this to happen, there needs to be a significant increase in buying volume and positive market sentiment.

On the flip side, if Bitcoin fails to hold the $60,000 support, the next major support lies around $57,000. A drop below this level could invalidate the 200-day EMA as a support, pushing Bitcoin into a more bearish zone and potentially triggering a stronger sell-off.

Cardano stalls as traders await next move amid crypto market selloff

Despite its potential and strong community support, ADA’s price performance has been lackluster. With its price stuck around $0.41, the chart shows that Cardano has been struggling to gain any traction.

Crucially for any meaningful upward movement in the cryptocurrency, the 50-day and 200-day EMAs are acting as resistance levels. However, Cardano has failed to break past either.

Technical analysis shows that Cardano is in oversold territory as its RSI is in the lower range. This may present an opportunity for long-term investors to buy the dip.

But the low trading volume is a worrying sign that the broader market is not interested. At best, investor sentiment has been mixed on Cardano.

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