XRP Price Stabilizes After Flash Crash, Market Watches Closely
Analysis
Price Impact
HighXrp experienced a significant flash crash, extending losses and diving below $2.00. the price is now consolidating, but technical indicators suggest potential for further decline if it remains below key resistance levels.
Trustworthiness
HighThe source explicitly states a strict editorial policy focusing on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed, ensuring high reporting standards.
Price Direction
BearishXrp broke below a contracting triangle, the $2.00 zone, and the 100-hourly simple moving average, entering a short-term bearish zone. it failed to recover significantly above key fibonacci retracement levels, and resistance at $2.00 seems strong. further declines toward $1.90 and even $1.80 are possible if it fails to clear $2.00.
Time Effect
ShortThe analysis focuses on hourly charts, immediate support/resistance levels ($1.90, $2.00), and short-term technical indicators like the hourly macd and rsi, indicating potential price movements in the near future.
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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 extended losses and traded dived $2.00. The price is now consolidating and might decline further if it remains below $2.00. XRP price started a fresh decline below the $2.00 zone. The price is now trading below $2.00 and the 100-hourly Simple Moving Average. There was a break below a contracting triangle with support at $2.050 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $2.00. XRP Price Dips Sharply XRP price failed to stay above $2.10 and started a fresh decline, like Bitcoin and Ethereum . The price declined below $2.020 and $2.00 to enter a short-term bearish zone. There was a break below a contracting triangle with support at $2.050 on the hourly chart of the XRP/USD pair. The price even spiked below $1.880. A low was formed at $1.847, and the price is now consolidating losses. There was a recovery wave above $1.920. The price even tested the 50% Fib retracement level of the downward move from the $2.065 swing high to the $1.847 low, but the bears remained active. The price is now trading below $2.00 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.980 level and the 61.8% Fib retracement level of the downward move from the $2.065 swing high to the $1.847 low. Source: XRPUSD on TradingView.com The first major resistance is near the $2.00 level. A close above $2.00 could send the price to $2.065. The next hurdle sits at $2.10. A clear move above the $2.10 resistance might send the price toward the $2.120 resistance. Any more gains might send the price toward the $2.150 resistance. The next major hurdle for the bulls might be near $2.20. More Losses? If XRP fails to clear the $2.00 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.9320 level. The next major support is near the $1.90 level. If there is a downside break and a close below the $1.90 level, the price might continue to decline toward $1.850. The next major support sits near the $1.820 zone, below which the price could continue lower toward $1.80. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $1.920 and $1.90. Major Resistance Levels – $1.980 and $2.00.