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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.

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Categories:

Hot right now:

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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?

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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.

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