Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP Price Hovers at Support — Can The 100 SMA Spark Bullish Bounce?

Share This Post

XRP price corrected gains from the $2.30 zone. The price is now consolidating near the $2.150 support and might aim for a fresh increase.

  • XRP price started a fresh increase above the $2.150 zone.
  • The price is now trading above $2.150 and the 100-hourly Simple Moving Average.
  • There is a key bearish trend line forming with resistance at $2.20 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might start another increase unless there is a close below the $2.150 support.

XRP Price Dips To Support

XRP price started a decent upward wave above the $2.120 and $2.150 resistance levels, like Bitcoin and Ethereum. The price traded above the $2.220 and $2.250 levels to start a decent increase.

A high was formed at $2.299 and the price started a downside correction. There was a move below the $2.20 and $2.180 support levels. A low was formed at $2.120 and the price started another increase. It cleared the 50% Fib retracement level of the downward move from the $2.299 swing high to the $2.120 low.

However, the bears are active near the $2.2350 level and the 61.8% Fib retracement level of the downward move from the $2.299 swing high to the $2.120 low. There is also a key bearish trend line forming with resistance at $2.20 on the hourly chart of the XRP/USD pair.

The price is now trading above $2.150 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.20 level and the trend line. The first major resistance is near the $2.2350 level.

XRP Price

The next resistance is $2.30. A clear move above the $2.30 resistance might send the price toward the $2.350 resistance. Any more gains might send the price toward the $2.450 resistance or even $2.50 in the near term. The next major hurdle for the bulls might be $2.620.

More Downsides?

If XRP fails to clear the $2.20 resistance zone, it could start another decline. Initial support on the downside is near the $2.1620 level. The next major support is near the $2.150 level.

If there is a downside break and a close below the $2.150 level, the price might continue to decline toward the $2.120 support. The next major support sits near the $2.0650 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.1650 and $2.150.

Major Resistance Levels – $2.200 and $2.2350.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Bitcoin’s $104,000 Peak Sparks High-Stakes Short Positions – Details

Bitcoin continued its climb past $104,000 on Monday, and that rally has tempted some big traders to bet against it A few high-stakes short positions now sit on the brink of collapse These trades

Eric Trump-Backed Bitcoin Giant Prepares for Nasdaq Breakout

A high-powered merger is catapulting American Bitcoin into the public spotlight as it fast-tracks a Nasdaq debut, unleashing massive momentum for institutional-scale mining Eric Trump-Backed Bitcoin

Short squeeze propels Bitcoin past $100,000 with funding rates growing

Bitcoin crossed $100,000 last week for the first time since February, powered by a rapid expansion in derivatives activity that set new records for open interest, funding rates, and short

XRP Target Could Be $15 If This Pattern Is In Play, Analyst Says

An analyst has explained how XRP could end up targeting the $15 mark if this pattern is the governing one behind the latest price breakout XRP Was Trading Inside A Symmetrical Triangle Earlier In a

Bitcoin Targets Uncharted Territory After Breaking $90K–$94K Range With Ease – Details

Bitcoin is once again commanding the spotlight as it trades above critical levels and prepares to challenge its all-time highs After months of aggressive selling pressure and pessimistic sentiment,

SEC Chair Pushes Clear Crypto Rules for Trading, Custody, and Issuance

The SEC is unleashing a new crypto era, vowing to ditch regulation-by-enforcement in favor of bold, crystal-clear rules that supercharge onchain innovation and market growth SEC Chair Commits to