XRP Price Recovers Slightly, Showing Subtle Signs of Bullish Reaccumulation
Analysis
Price Impact
MedXrp is showing subtle signs of bullish reaccumulation after a recent decline, recovering from $1.8177. however, it faces significant resistance levels at $2.150 and $2.250, which could cap the recovery or even lead to a fresh decline if not breached.
Trustworthiness
HighThe source explicitly states a strict editorial policy focusing on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed, adhering to the highest standards in reporting.
Price Direction
BullishThe price has recovered from a low of $1.8177, broken above a key bearish trend line, and is trading above the 100-hourly simple moving average. hourly macd is gaining pace in the bullish zone, and rsi is above 50, indicating short-term bullish momentum. however, a sustained move above $2.150 is crucial to avoid a fresh decline.
Time Effect
ShortThe analysis is based on hourly chart data and short-term technical indicators (hourly macd, rsi), focusing on immediate support and resistance levels over the next few hours to days.
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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 decline below $2.00. The price is now recovering from $1.820 and might face hurdles near the $2.150 pivot level. XRP price started a recovery wave from the $1.820 zone. The price is now trading above $2.00 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2.00 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $2.150. XRP Price Eyes Recovery XRP price extended losses below the $2.00 support, like Bitcoin and Ethereum . The price even spiked below $1.90 before the bulls appeared. A low was formed at $1.8177, and the price is now attempting to recover. There was a move above the $1.88 and $1.95 levels. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $2.140 swing high to the $1.817 low. Besides, there was a break above a key bearish trend line with resistance at $2.00 on the hourly chart of the XRP/USD pair. The price is now trading above $2.00 and the 100-hourly Simple Moving Average. It is also above the 76.4% Fib retracement level of the downward move from the $2.140 swing high to the $1.817 low. Source: XRPUSD on TradingView.com If there is a fresh upward move, the price might face resistance near the $2.120 level. The first major resistance is near the $2.150 level. A close above $2.150 could send the price to $2.20. The next hurdle sits at $2.250. A clear move above the $2.250 resistance might send the price toward the $2.320 resistance. Any more gains might send the price toward the $2.350 resistance. The next major hurdle for the bulls might be near $2.40. Another Decline? If XRP fails to clear the $2.150 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.00 level. The next major support is near the $1.980 level. If there is a downside break and a close below the $1.980 level, the price might continue to decline toward $1.880. The next major support sits near the $1.8450 zone, below which the price could continue lower toward $1.80. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.980 and $1.880. Major Resistance Levels – $2.150 and $2.250.