XRP Price Drifts Lower, All Eyes on Bulls | Crypto News
XRP price prolonged losses and traded below $1.50. The price is now consolidating losses but faces hurdles close to $1.4650 and $1.50.
- XRP price began another decline and traded below the $1.50 zone.
- The price is now trading below $1.480 and the 100-hourly Simple Moving Average.
- There was a break above a key bearish development line with resistance at $1.4450 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair may continue to transfer down if it stays below $1.50.
XRP Price Extends Losses
XRP price failed to keep above $1.5350 and prolonged its decline, like Bitcoin and Ethereum. The price declined below $1.520 and $1.50 to enter a short-term bearish zone.
The price even prolonged losses below $1.450. A low was fashioned at $1.4228, and the price is now consolidating losses below the 23.6% Fib retracement stage of the downward transfer from the $1.6068 swing high to the $1.4228 low.
Recently, there was a break above a key bearish development line with resistance at $1.4450 on the hourly chart of the XRP/USD pair. The pair is now trading below $1.50 and the 100-hourly Simple Moving Average. If there may be a recent recovery transfer, the price would possibly face resistance close to the $1.4650 stage.
The first major resistance is close to the $1.4920 stage. The main resistance may very well be $1.50. A close above $1.50 may ship the price to $1.520. The next hurdle sits at $1.5360 or the 61.8% Fib retracement stage of the downward transfer from the $1.6068 swing high to the $1.4228 low.
A clear transfer above the $1.5360 resistance would possibly ship the price toward the $1.5620 resistance. Any more good points would possibly ship the price toward the $1.5750 resistance. The next major hurdle for the bulls is perhaps close to $1.60.
Another Decline?
If XRP fails to clear the $1.50 resistance zone, it may start a recent decline. Initial assist on the draw back is close to the $1.440 stage. The next major assist is close to the $1.4220 stage.
If there may be a draw back break and a close below the $1.4220 stage, the price would possibly continue to decline toward $1.4050. The next major assist sits close to the $1.3880 zone, below which the price may continue decrease toward $1.3650.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now dropping tempo in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 stage.
Major Support Levels – $1.4400 and $1.4220.
Major Resistance Levels – $1.4650 and $1.5000.
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