XRP Price Struggles at Resistance With Signals | Crypto News
XRP price began a recovery wave above $2.050. The price is now displaying optimistic indicators but may battle to clear the $2.10 resistance.
- XRP price began a recovery wave above the $2.050 zone.
- The price is now trading above $2.060 and the 100-hourly Simple Moving Average.
- There is a connecting bearish development line forming with resistance at $2.090 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair may continue to transfer up if it settles above $2.160.
XRP Price Faces Uphill Task
XRP price remained supported above $2.00 and began a recovery wave, like Bitcoin and Ethereum. The price was ready to climb above $2.020 and $2.050 to enter a optimistic zone.
There was a clear transfer above the 23.6% Fib retracement stage of the downward transfer from the $2.2130 swing high to the $1.990 low. However, the price is now going through resistance close to $2.10. There is also a connecting bearish development line forming with resistance at $2.090 on the hourly chart of the XRP/USD pair.
The price is now trading above $2.060 and the 100-hourly Simple Moving Average. If there’s a contemporary upward transfer, the price may face resistance close to the $2.10 stage and the development line. The first major resistance is close to the $2.1250 stage.
A close above $2.1250 may ship the price to $2.160 and the 76.4% Fib retracement stage of the downward transfer from the $2.2130 swing high to the $1.990 low. The next hurdle sits at $2.220. A clear transfer above the $2.220 resistance may ship the price toward the $2.280 resistance. Any more positive factors may ship the price toward the $2.350 resistance. The next major hurdle for the bulls is likely to be close to $2.450.
Another Decline?
If XRP fails to clear the $2.10 resistance zone, it may start a contemporary decline. Initial assist on the draw back is close to the $2.050 stage. The next major assist is close to the $2.00 stage.
If there’s a draw back break and a close below the $2.00 stage, the price may continue to decline toward $1.9650. The next major assist sits close to the $1.920 zone, below which the price may continue decrease toward $1.850.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining tempo in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 stage.
Major Support Levels – $2.020 and $2.00.
Major Resistance Levels – $2.10 and $2.160.
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