XRP worth began a recent enhance above the $2.20 resistance. The worth is now correcting features and would possibly discover bids close to the $2.050 zone.
- XRP worth began a draw back correction from the $2.250 resistance zone.
- The worth is now buying and selling under $2.120 and the 100-hourly Simple Moving Average.
- There was a break under a connecting bullish pattern line with help at $2.140 on the hourly chart of the XRP/USD pair (information supply from Kraken).
- The pair would possibly lengthen losses if there may be a shut under the $2.050 help zone.
XRP Price Dips Again
XRP worth began a recent enhance above the $1.980 resistance, like Bitcoin and Ethereum. The worth climbed above the $2.020 and $2.050 resistance ranges.
A excessive was fashioned at $2.244 and the value lately began a draw back correction. There was a transfer under the $2.120 help zone. Besides, there was a break under a connecting bullish pattern line with help at $2.140 on the hourly chart of the XRP/USD pair.
The worth even spiked under the 50% Fib retracement stage of the upward transfer from the $1.920 swing low to the $2.244 excessive. The worth is now buying and selling under $2.120 and the 100-hourly Simple Moving Average.
On the upside, the value would possibly face resistance close to the $2.120 stage. The first main resistance is close to the $2.180 stage. The subsequent resistance is $2.20. A transparent transfer above the $2.20 resistance would possibly ship the value towards the $2.250 resistance. Any extra features would possibly ship the value towards the $2.320 resistance or even $2.350 within the close to time period. The subsequent main hurdle for the bulls is likely to be $2.50.
Another Decline?
If XRP fails to clear the $2.120 resistance zone, it might begin one other decline. Initial help on the draw back is close to the $2.050 stage and the 61.8% Fib retracement stage of the upward transfer from the $1.920 swing low to the $2.244 excessive. The subsequent main help is close to the $2.00 stage.
If there may be a draw back break and a shut under the $2.00 stage, the value would possibly proceed to say no towards the $1.920 help. The subsequent main help sits close to the $1.840 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now under the 50 stage.
Major Support Levels – $2.050 and $2.00.
Major Resistance Levels – $2.120 and $2.180.
