XRP Price Under Pressure Again, Traders Brace For | Crypto News
XRP price prolonged losses and traded below $1.40. The price is now consolidating losses and faces hurdles close to $1.3650 and $1.3940.
- XRP price began another decline and traded below the $1.40 zone.
- The price is now trading below $1.3880 and the 100-hourly Simple Moving Average.
- There is a bearish pattern line forming with resistance at $1.3720 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 Below $1.40
XRP price failed to keep above $1.4150 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 $1.380. A low was shaped at $1.3464, and the price is now consolidating losses properly below the 23.6% Fib retracement stage of the downward transfer from the $1.5495 swing high to the $1.3464 low.
The price is now trading below $1.3880 and the 100-hourly Simple Moving Average. If there’s a recent recovery transfer, the price would possibly face resistance close to the $1.3650 stage. There is also a bearish pattern line forming with resistance at $1.3720 on the hourly chart of the XRP/USD pair.
The first major resistance is close to the $1.380 stage. The main resistance could possibly be $1.3940. A close above $1.3940 might ship the price to $1.40. The next hurdle sits at $1.4250 or the 50% Fib retracement stage of the downward transfer from the $1.5495 swing high to the $1.3464 low.
A clear transfer above the $1.4250 resistance would possibly ship the price toward the $1.440 resistance. Any more positive aspects would possibly ship the price toward the $1.450 resistance.
More Losses?
If XRP fails to clear the $1.40 resistance zone, it might start a recent decline. Initial help on the draw back is close to the $1.3465 stage. The next major help is close to the $1.3350 stage.
If there’s a draw back break and a close below the $1.3350 stage, the price would possibly continue to decline toward $1.3220. The next major help sits close to the $1.320 zone, below which the price might continue decrease toward $1.3120.
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 stage.
Major Support Levels – $1.3465 and $1.3350.
Major Resistance Levels – $1.3720 and $1.3940.
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