XRP Price Prediction: Stable Action Hints At | Crypto News
XRP price began a contemporary increase above $2.550. The price is now dealing with hurdles above $2.650 and at risk of another decline in the close to time period.
- XRP price failed to continue increased above $2.70 and corrected some positive factors.
- The price is now trading below $2.60 and the 100-hourly Simple Moving Average.
- There is a bearish pattern line forming with resistance at $2.65 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might start a contemporary increase if it stays above $2.5120.
XRP Price Holds Support
XRP price shaped a short-term top close to $2.69 and began a draw back correction, like Bitcoin and Ethereum. The price dipped below the $2.65 and $2.62 ranges.
There was a transfer below the 23.6% Fib retracement degree of the upward wave from the $2.327 swing low to the $2.697 high. The price even spiked below $2.55 but remained secure above $2.50. Besides, there may be a bearish pattern line forming with resistance at $2.65 on the hourly chart of the XRP/USD pair.
The price is now trading below $2.60 and the 100-hourly Simple Moving Average. If there may be a contemporary upward transfer, the price may face resistance close to the $2.620 degree. The first major resistance is close to the $2.650 degree and the pattern line, above which the price might rise and check $2.680.
A clear transfer above the $2.680 resistance may ship the price toward the $2.720 resistance. Any more positive factors may ship the price toward the $2.750 resistance. The next major hurdle for the bulls may be close to $2.80.
More Losses?
If XRP fails to clear the $2.650 resistance zone, it might start a contemporary decline. Initial help on the draw back is close to the $2.550 degree. The next major help is close to the $2.5120 degree and the 50% Fib retracement degree of the upward wave from the $2.327 swing low to the $2.697 high.
If there may be a draw back break and a close below the $2.5120 degree, the price may continue to decline toward $2.468. The next major help sits close to the $2.420 zone, below which the price might continue decrease toward $2.40.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now shedding tempo in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 degree.
Major Support Levels – $2.550 and $2.5120.
Major Resistance Levels – $2.620 and $2.650.
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