XRP Price Signals Potential Upside Reversal After Prolonged Weakness
Analysis
Price Impact
HighXrp is at a critical juncture where a break above $1.50 could signal a significant upside reversal, potentially leading to substantial gains. conversely, failure to clear this resistance could result in further price declines, indicating high potential volatility.
Trustworthiness
HighThe source explicitly states strict editorial policy, expert review, and high reporting standards, which are strong indicators of reliability and accuracy.
Price Direction
NeutralWhile the headline suggests a 'potential upside reversal' and the price is above the 100-hourly sma with rsi above 50, xrp faces strong immediate resistance at $1.4920 and $1.50. the price action is currently consolidating, and its direction hinges on whether it can successfully break these resistance levels or fail, leading to further downside. it's an inflection point rather than a clear directional trend yet.
Time Effect
ShortThe analysis focuses on hourly charts, immediate resistance/support levels, and short-term bearish zones, indicating potential price movements expected within hours to a few days.
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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 extended losses and traded below $1.450. The price is now consolidating losses but faces hurdles near $1.4850 and $1.50. XRP price started another decline and traded below the $1.50 zone. The price is now trading above $1.50 and the 100-hourly Simple Moving Average. There is a declining channel forming with resistance at $1.4920 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.50. XRP Price Finds Support XRP price failed to stay above $1.550 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.520 and $1.50 to enter a short-term bearish zone. The price even extended losses below $1.450. A low was formed at $1.4264, and the price is now consolidating losses. There was a minor upward move toward the 23.6% Fib retracement level of the downward move from the $1.6712 swing high to the $1.4264 low. The price is now trading above $1.50 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.490 level. There is also a declining channel forming with resistance at $1.4920 on the hourly chart of the XRP/USD pair. The first major resistance is near the $1.50 level. A close above $1.50 could send the price to $1.5480 and the 50% Fib retracement level of the downward move from the $1.6712 swing high to the $1.4264 low. Source: XRPUSD on TradingView.com The next hurdle sits at $1.550. A clear move above the $1.550 resistance might send the price toward the $1.5850 resistance. Any more gains might send the price toward the $1.620 resistance. The next major hurdle for the bulls might be near $1.650. Another Drop? If XRP fails to clear the $1.50 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.4420 level. The next major support is near the $1.4250 level. If there is a downside break and a close below the $1.4250 level, the price might continue to decline toward $1.40. The next major support sits near the $1.3850 zone, below which the price could continue lower toward $1.350. 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 above the 50 level. Major Support Levels – $1.4420 and $1.4250. Major Resistance Levels – $1.4920 and $1.50.