XRP Price Gives Back Momentum, Traders Reassess the Bullish Setup
Analysis
Price Impact
MedXrp failed to surpass $2.20 and is currently in a downside correction, testing critical support levels around $2.080. a break below this could lead to further declines, while clearing key resistances might revive bullish momentum.
Trustworthiness
HighThe source adheres to a strict editorial policy, focusing on accuracy, relevance, and impartiality. content is created by industry experts, meticulously reviewed, and maintains the highest standards in reporting.
Price Direction
NeutralWhile xrp is experiencing a short-term downside correction with bearish indicators (macd, rsi), it is currently testing a crucial bullish trend line at $2.080. its direction depends on whether this support holds or if it can clear resistances like $2.120 and $2.150.
Time Effect
ShortThe analysis is based on hourly charts, immediate technical indicators (macd, rsi), and current support/resistance levels, indicating a focus on short-term price movements.
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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 failed to surpass $2.20 and started another decline. The price is now correcting gains and might struggle to stay above $2.080. XRP price started a downside correction and tested the $2.080 zone. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $2.080 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it clears $2.150. XRP Price Starts Fresh Decline XRP price failed to clear $2.20 and started a downside correction below the $2.150 zone, underperforming Bitcoin and Ethereum . The price dipped below the $2.120 and $2.10 levels to enter a negative zone. The price even dipped below the 61.8% Fib retracement level of the upward move from the $2.032 swing low to the $2.193 high. The bulls are now active near $2.080. There is also a bullish trend line forming with support at $2.080 on the hourly chart of the XRP/USD pair. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. 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, above which the price could rise and test $2.20. Source: XRPUSD on TradingView.com A clear move above the $2.20 resistance might send the price toward the $2.250 resistance. Any more gains might send the price toward the $2.320 resistance. The next major hurdle for the bulls might be near $2.350. 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 $2.080 level. The next major support is near the $2.070 level and the 76.4% Fib retracement level of the upward move from the $2.032 swing low to the $2.193 high. If there is a downside break and a close below the $2.070 level, the price might continue to decline toward $2.050. The next major support sits near the $2.020 zone, below which the price could continue lower toward $2.00. 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 – $2.080 and $2.050. Major Resistance Levels – $2.120 and $2.150.