$XRP Faces Pivotal Resistance at $1.126 Amid Bearish MACD Trends
#XRP is currently navigating a critical phase on the 1-hour chart, showing signs of consolidation and indecision. With significant resistance at $1.126 and immediate support at $1.0895, traders are closely monitoring these key levels.
Technical indicators present mixed signals. The EMA indicators indicate a bearish crossover, suggesting short-term downward momentum. Meanwhile, the MACD shows consistent negative momentum, although a narrowing histogram hints at a potential reversal. The RSI levels remain neutral, allowing for flexibility in market direction.
Traders should keep an eye on the $1.0895 support level. A breakdown could lead to further declines, while holding above this level may allow XRP to target the $1.126 resistance. For long trades, an entry near $1.0895 with a stop-loss below $1.0850 is advisable, while short traders might consider positions near $1.126.
As the market consolidates, a breakout from this range could signal the next significant trend.
