Altcoin Update: Ethereum Shows Slight Signs of Recovery While XRP Struggles

Ethereum's price has risen slightly above the 50-day exponential moving average at $3316 as of this report on Wednesday. The (RSI) on the daily chart has crossed above the midline of 50, increasing the likelihood of a recovery towards the 100-day exponential moving average at $3513.

The MACD indicator on the same chart is nearly crossing above the signal line, with green bars expanding, supporting short-term bullish outlooks.

However, the 200-day exponential moving average at $3456 may limit any rebounds. Furthermore, a decline below the 50-day exponential moving average at $3316 could push Ethereum toward the key support level at $3000.

Daily ETH/USDT Chart

As for XRP, the digital currency is trading under pressure and below the 50-day exponential moving average at $2.26, the 100-day EMA at $2.42, and the 200-day EMA at $2.47, reinforcing short-term bearish expectations.

Daily XRP/USDT Chart

The (RSI) remains in the bearish zone at 44 and is heading downward, indicating weakening bullish momentum. The support level at $2.00 is a short-term target, but if selling pressure increases, XRP’s price could extend its decline to the support zone between $1.98 and $1.82. On the upside, buyers should accelerate the price rally above the 50-day exponential moving average at $2.26 to reverse the bullish trend toward the downward trendline.