XRP Price Positive Streak Fades—Are Traders Bracing for Volatility?
Analysis
Price Impact
MedXrp is undergoing a downside correction after a recent positive streak, with the price testing key support levels and struggling to maintain positive momentum. the article highlights potential for both further decline and a rebound depending on crucial technical levels.
Trustworthiness
HighThe source explicitly states a strict editorial policy focused on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed, ensuring high reporting standards.
Price Direction
NeutralWhile xrp is currently in a downside correction with bearish signals from macd and rsi, it is still trading above a bullish trend line and key support levels. the direction hinges on whether it can clear immediate resistance at $2.120 or break below major support at $2.050.
Time Effect
ShortThe analysis focuses on hourly chart data, short-term moving averages, and immediate support/resistance levels, indicating a focus on price movements and potential reversals within a short timeframe (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 decent increase above $2.150. The price is now correcting gains and might struggle to stay in a positive zone. XRP price started a downside correction and tested the $2.080 zone. The price is now trading above $2.050 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2.070 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it clears $2.120. XRP Price Dips Again XRP price started a downside correction from the $2.180 zone, like Bitcoin and Ethereum . The price dipped below the $2.150 and $2.120 levels to enter a consolidation phase. The price even dipped below the 50% Fib retracement level of the upward move from the $2.042 swing low to the $2.1778 high. However, the bulls remained active above the $2.080 support. There is also a bullish trend line forming with support at $2.070 on the hourly chart of the XRP/USD pair. The price is now trading above $2.050 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2.120 level. Source: XRPUSD on TradingView.com The first major resistance is near the $2.150 level, above which the price could rise and test $2.180. A clear move above the $2.180 resistance might send the price toward the $2.2250 resistance. Any more gains might send the price toward the $2.250 resistance. The next major hurdle for the bulls might be near $2.2880. More Losses? If XRP fails to clear the $2.120 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.070 level, the 76.4% Fib retracement level of the upward move from the $2.042 swing low to the $2.1778 high, and the trend line. The next major support is near the $2.050 level. If there is a downside break and a close below the $2.050 level, the price might continue to decline toward $2.00. The next major support sits near the $1.9850 zone, below which the price could continue lower toward $1.920. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.070 and $2.050. Major Resistance Levels – $2.120 and $2.180.