XRP Price Slides Back To Range Support After | Crypto News
XRP price prolonged losses and traded below $1.40. The price is now consolidating losses and faces hurdles close to $1.3980 and $1.4050.
- XRP price began another decline and traded below the $1.40 zone.
- The price is now trading below $1.40 and the 100-hourly Simple Moving Average.
- There is a bearish pattern line forming with resistance at $1.3920 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might continue to transfer down if it stays below $1.40.
XRP Price Dips Further
XRP price failed to keep above $1.4120 and prolonged its decline, like Bitcoin and Ethereum. The price declined below $1.4050 and $1.40 to enter a short-term bearish zone.
The price even prolonged losses below $1.3880. A low was shaped at $1.380, and the price is now consolidating losses below the 23.6% Fib retracement degree of the downward transfer from the $1.4570 swing high to the $1.3800 low.
The price is now trading below $1.40 and the 100-hourly Simple Moving Average. If there’s a contemporary recovery transfer, the price may face resistance close to the $1.3920 degree. There is also a bearish pattern line forming with resistance at $1.3920 on the hourly chart of the XRP/USD pair.
The first major resistance is close to the $1.40 degree. The main resistance could possibly be $1.4095. A close above $1.4095 might ship the price to $1.4180 or the 50% Fib retracement degree of the downward transfer from the $1.4570 swing high to the $1.3800 low.
The next hurdle sits at $1.4250. A clear transfer above the $1.4250 resistance may ship the price toward the $1.450 resistance. Any more good points may ship the price toward the $1.4650 resistance.
Another Decline?
If XRP fails to clear the $1.40 resistance zone, it might start a contemporary decline. Initial assist on the draw back is close to the $1.380 degree. The next major assist is close to the $1.3680 degree.
If there’s a draw back break and a close below the $1.3680 degree, the price may continue to decline toward $1.350. The next major assist sits close to the $1.3320 zone, below which the price might continue decrease toward $1.320.
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 below the 50 degree.
Major Support Levels – $1.3800 and $1.3680.
Major Resistance Levels – $1.3920 and $1.4000.
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