XRP Bulls Lose Grip as Signals Point Toward Another Decline
Analysis
Price Impact
MedXrp is struggling to clear key resistance levels at $2.2250 and $2.250. technical indicators such as the hourly macd losing bullish momentum and the hourly rsi being below 50 point to a potential bearish reversal. a break below the $2.150 support could lead to further declines.
Trustworthiness
HighThe source explicitly states strict editorial policy, expert creation, meticulous review, and adherence to the highest standards in reporting and publishing, focusing on accuracy and impartiality.
Price Direction
BearishThe article's headline 'xrp bulls lose grip as signals point toward another decline' and the technical analysis, including bearish trend line formation, macd losing pace, and rsi below 50, strongly suggest a potential downside. failure to clear resistance at $2.250 and a break below $2.150 could initiate a fresh decline.
Time Effect
ShortThe analysis is based on hourly charts and immediate resistance/support levels, indicating a focus on short-term price movements and potential declines in the coming hours to days.
Original Article:
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 steady increase above $2.220. The price is now struggling to clear $2.280 and might start a fresh decline below $2.150. XRP price started a fresh increase above the $2.20 zone. The price is now trading near $2.180 and the 100-hourly Simple Moving Average. There is a near bearish trend line forming with resistance at $2.2250 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it dips below $2.150. XRP Price Faces Resistance XRP price started a decent upward move above $2.120 and $2.150, like Bitcoin and Ethereum . The price gained pace for a clear move above the $2.20 resistance. The bulls even pumped the price above the $2.240 zone. A high was formed at $2.286 and the price started a downside correction. There was a move below the 23.6% Fib retracement level of the upward move from the $1.817 swing low to the $2.286 high. The price is now trading near $2.180 and the 100-hourly Simple Moving Average. Besides, there is a near bearish trend line forming with resistance at $2.2250 on the hourly chart of the XRP/USD pair. Source: XRPUSD on TradingView.com If there is a fresh upward move, the price might face resistance near the $2.2250 level. The first major resistance is near the $2.250 level, above which the price could rise and test $2.2850. A clear move above the $2.2850 resistance might send the price toward the $2.350 resistance. Any more gains might send the price toward the $2.4320 resistance. The next major hurdle for the bulls might be near $2.50. Downside Continuation? If XRP fails to clear the $2.250 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.150 level. The next major support is near the $2.10 level. If there is a downside break and a close below the $2.10 level, the price might continue to decline toward $2.050 and the 50% Fib retracement level of the upward move from the $1.817 swing low to the $2.286 high. The next major support sits near the $2.00 zone, below which the price could continue lower toward $1.9250. 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 below the 50 level. Major Support Levels – $2.150 and $2.050. Major Resistance Levels – $2.250 and $2.280.