XRP Price Prediction: Stable Action Hints At Brewing Bullish Breakout
Analysis
Price Impact
MedThe analysis focuses on technical resistance and support levels, indicating potential for either a bullish breakout or a bearish decline based on key price points.
Trustworthiness
HighThe source claims a strict editorial policy, reliance on industry experts, meticulous review processes, and high standards in reporting.
Price Direction
NeutralWhile the headline hints at a 'brewing bullish breakout,' the current technical indicators show xrp trading below the 100-hourly sma and an rsi below 50, suggesting short-term bearish pressure. however, it's holding key support above $2.50, and a break above $2.650 resistance could trigger an upward move.
Time Effect
ShortThe analysis is based on hourly charts, hourly macd, and rsi, with mentions of 'near term' risks and 'short-term top,' indicating a focus on immediate price movements.
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Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing 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 started a fresh increase above $2.550. The price is now facing hurdles above $2.650 and at risk of another decline in the near term. XRP price failed to continue higher above $2.70 and corrected some gains. The price is now trading below $2.60 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $2.65 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it stays above $2.5120. XRP Price Holds Support XRP price formed a short-term top near $2.69 and started a downside correction, like Bitcoin and Ethereum . The price dipped below the $2.65 and $2.62 levels. There was a move below the 23.6% Fib retracement level of the upward wave from the $2.327 swing low to the $2.697 high. The price even spiked below $2.55 but remained stable above $2.50. Besides, there is a bearish trend line forming with resistance at $2.65 on the hourly chart of the XRP/USD pair. The price is now trading below $2.60 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2.620 level. The first major resistance is near the $2.650 level and the trend line, above which the price could rise and test $2.680. Source: XRPUSD on TradingView.com A clear move above the $2.680 resistance might send the price toward the $2.720 resistance. Any more gains might send the price toward the $2.750 resistance. The next major hurdle for the bulls might be near $2.80. More Losses? If XRP fails to clear the $2.650 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.550 level. The next major support is near the $2.5120 level and the 50% Fib retracement level of the upward wave from the $2.327 swing low to the $2.697 high. If there is a downside break and a close below the $2.5120 level, the price might continue to decline toward $2.468. The next major support sits near the $2.420 zone, below which the price could continue lower toward $2.40. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.550 and $2.5120. Major Resistance Levels – $2.620 and $2.650.