XRP Price Bearish Continuation Confirmed As | Crypto News
XRP price prolonged losses and traded below $1.880. The price is now consolidating and would possibly decline additional if it stays below $1.920.
- XRP price began a contemporary decline below the $1.90 zone.
- The price is now trading below $1.90 and the 100-hourly Simple Moving Average.
- There is a key bearish pattern line forming with resistance at $1.885 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might continue to transfer down if it stays below $1.90.
XRP Price Dips Further
XRP price failed to keep above $1.950 and began a contemporary decline, like Bitcoin and Ethereum. The price declined below $1.920 and $1.90 to enter a short-term bearish zone.
The price even spiked below $1.850. A low was shaped at $1.810, and the price is now consolidating losses. There was a recovery wave above $1.850. The price cleared the 23.6% Fib retracement degree of the downward transfer from the $1.963 swing high to the $1.810 low, but the bears remained energetic.
The price is now trading below $1.90 and the 100-hourly Simple Moving Average. If there may be a contemporary upward transfer, the price would possibly face resistance close to the $1.8850 degree and the 50% Fib retracement degree of the downward transfer from the $1.963 swing high to the $1.810 low. There is also a key bearish pattern line forming with resistance at $1.885 on the hourly chart of the XRP/USD pair.
The first major resistance is close to the $1.90 degree. A close above $1.90 might ship the price to $1.950. The next hurdle sits at $2.00. A clear transfer above the $2.00 resistance would possibly ship the price toward the $2.050 resistance. Any more features would possibly ship the price toward the $2.120 resistance. The next major hurdle for the bulls may be close to $2.20.
Downside Break?
If XRP fails to clear the $1.90 resistance zone, it might start a contemporary decline. Initial help on the draw back is close to the $1.840 degree. The next major help is close to the $1.820 degree.
If there may be a draw back break and a close below the $1.820 degree, the price would possibly continue to decline toward $1.780. The next major help sits close to the $1.750 zone, below which the price might continue decrease toward $1.70.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining tempo in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now close to the 50 degree.
Major Support Levels – $1.840 and $1.820.
Major Resistance Levels – $1.8850 and $1.90.
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