XRP Price Trims Upside, Slow Decline Signals Seller Dominance
Analysis
Price Impact
MedXrp price is undergoing a downside correction, trading below $1.90 and the 100-hourly simple moving average. seller dominance is suggested as the price struggles to stay in positive territory following a rejection from the $1.950 zone.
Trustworthiness
HighThe source explicitly states a strict editorial policy focused on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed, adhering to the highest standards in reporting and publishing.
Price Direction
BearishThe price is correcting gains, with technical indicators (hourly macd gaining pace in the bearish zone, hourly rsi below 50) confirming a bearish sentiment. key resistance levels at $1.920 and $1.950 are proving hard to clear, and a failure to do so could lead to further declines towards $1.8650 and $1.8420.
Time Effect
ShortThe analysis is based on hourly charts, hourly moving averages, and immediate support/resistance levels, indicating a focus on short-term price movements and corrections.
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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 decent increase above $1.920. The price is now correcting gains and might struggle to stay in a positive zone. XRP price started a downside correction and tested the $1.880 zone. The price is now trading below $1.90 and the 100-hourly Simple Moving Average. There is a declining channel or a possible bullish flag pattern forming with resistance at $1.9250 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it clears $1.950. XRP Price Fails At Resistance XRP price started a downside correction from the $1.950 zone, like Bitcoin and Ethereum . The price dipped below the $1.920 and $1.90 levels to enter a consolidation phase. The price even dipped below the 23.6% Fib retracement level of the upward move from the $1.770 swing low to the $1.9578 high. However, there is a declining channel or a possible bullish flag pattern forming with resistance at $1.9250 on the hourly chart of the XRP/USD pair. Source: XRPUSD on TradingView.com The price is now trading below $1.90 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.90 level. The first major resistance is near the $1.920 level, above which the price could rise and test $1.950. A clear move above the $1.950 resistance might send the price toward the $2.00 resistance. Any more gains might send the price toward the $2.050 resistance. The next major hurdle for the bulls might be near $2.120. More Losses? If XRP fails to clear the $1.920 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.8650 level and the 50% Fib retracement level of the upward move from the $1.770 swing low to the $1.9578 high. The next major support is near the $1.8420 level. If there is a downside break and a close below the $1.8420 level, the price might continue to decline toward $1.8150. The next major support sits near the $1.770 zone, below which the price could continue lower toward $1.720. 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 – $1.8650 and $1.8420. Major Resistance Levels – $1.920 and $1.950.