Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
XRP price is holding the ground above $2.25 despite pressure on Bitcoin. The price is now consolidating and aiming for a fresh increase above the $2.40 resistance.
- XRP price is showing a few positive signs above the $2.25 zone.
- The price is now trading below $2.3650 and the 100-hourly Simple Moving Average.
- There is a key bearish trend line forming with resistance at $2.380 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might start a fresh increase if it stays above the $2.250 support.
XRP Price Consolidates Below $2.50
XRP price failed to extend gains above the $2.40 and $2.45 resistance levels. The price reacted to the downsides, but losses were limited compared to Bitcoin and Ethereum. There was a move below the $2.32 and $2.25 support levels.
The last swing low was formed at $2.202, and the price is now consolidating. There was a move above the $2.25 level. The price cleared the 50% Fib retracement level of the downward move from the $2.47 swing high to the $2.202 low.
The price is now trading below $2.3650 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.380 level. There is also a key bearish trend line forming with resistance at $2.380 on the hourly chart of the XRP/USD pair.
The first major resistance is near the $2.40 level or the 76.4% Fib retracement level of the downward move from the $2.47 swing high to the $2.202 low.
The next resistance is $2.45. A clear move above the $2.45 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.6650 in the near term. The next major hurdle for the bulls might be $2.720.
More Losses?
If XRP fails to clear the $2.400 resistance zone, it could start another decline. Initial support on the downside is near the $2.320 level. The next major support is near the $2.250 level.
If there is a downside break and a close below the $2.250 level, the price might continue to decline toward the $2.20 support. The next major support sits near the $2.120 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 above the 50 level.
Major Support Levels – $2.32 and $2.250.
Major Resistance Levels – $2.380 and $2.400.
