XRP Price Stable amid Consolidation: Change Ahead?
XRP is trying to rebound from $0.4880. A substantial rise requires clearing $0.5200 and $0.5320 resistance levels.
XRP is recovering from $0.4880.
The price is below $0.5220 and the 100-hour SMA.
XRP/USD broke over a short-term negative trend line with resistance at $0.5150 on the hourly chart.
Bullish momentum may result if the pair breaks $0.5220 barrier.
XRP Price Lacks Pace
Like Bitcoin and Ethereum, XRP fell below $0.5200. Prices fell below $0.5050 and $0.5000.
Below $0.4950, the price reached $0.4880. Price is trying to rebound from a low of $0.4867. Above the 50% Fib retracement level of the falling wave from $0.5233 swing high to $0.4867 low.
XRP/USD broke over a short-term negative trend line with resistance at $0.5150 on the hourly chart. The price is below $0.5220 and the 100-hour SMA.
Price may find resistance at $0.5200 on the upside. First big resistance is approaching $0.5220, the 76.4% Fib retracement level of the falling wave from $0.5233 swing high to $0.4867 low. The next hurdle may be $0.5320.
A clean break above $0.5320 might push the stock above $0.5500. More advances might push the price toward $0.5550 or $0.5620. $0.5650 may be the next challenge.
Another Drop?
XRP may fall again if it fails to break $0.5220. Initial downward support is at $0.5100. Near $0.5050 is the next important support.
If the price breaks down and closes below $0.5050, it may fall toward $0.5000. Near $0.4880 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $0.5050, $0.5000.
Major Resistance: $0.5220, $0.5320.
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