XRP Price Sinks Beneath Key Level, Traders Brace for Tough Recovery
Analysis
Price Impact
MedThe article indicates that xrp has fallen below a key support level and is facing resistance at multiple points. while a downtrend is suggested, there are also identified resistance levels that could lead to a recovery if broken. the mention of bitcoin and ethereum also declining suggests broader market sentiment influencing xrp.
Trustworthiness
HighThe article cites a strict editorial policy focusing on accuracy, relevance, and impartiality, and states it is created by industry experts and meticulously reviewed. it also provides specific price levels and technical indicators (macd, rsi, fib retracement) as evidence for its analysis.
Price Direction
BearishThe price has declined below key support levels like $1.3650 and $1.350, and is trading below the 100-hourly sma. the macd is in the bearish zone and rsi is below 50, suggesting further downward pressure. however, potential recovery points are also identified if resistance levels are breached.
Time Effect
ShortThe analysis focuses on hourly charts and immediate support/resistance levels, indicating a short-term outlook for price movements.
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 extended losses and traded below $1.3650. The price is now consolidating losses but faces hurdles near $1.3620 and $1.4120. XRP price started another decline and traded below the $1.350 zone. The price is now trading below $1.3650 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.4250 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.450. XRP Price Extends Decline XRP price failed to stay above $1.40 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.380 and $1.3650 to enter a short-term bearish zone. The price even extended losses below $1.350. A low was formed at $1.330, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $1.4641 swing high to the $1.3300 low. The price is now trading below $1.3650 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.3620 level. The first major resistance is near the $1.3810 level. The main resistance could be $1.4120 or the 61.8% Fib retracement level of the downward move from the $1.4641 swing high to the $1.3300 low. There is also a key bearish trend line forming with resistance at $1.4250 on the hourly chart of the XRP/USD pair. A close above $1.4250 could send the price to $1.450. Source: XRPUSD on TradingView.com The next hurdle sits at $1.4650. A clear move above the $1.4650 resistance might send the price toward the $1.50 resistance. Any more gains might send the price toward the $1.5250 resistance. The next major hurdle for the bulls might be near $1.550. More Losses? If XRP fails to clear the $1.4120 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3320 level. The next major support is near the $1.3300 level. If there is a downside break and a close below the $1.3300 level, the price might continue to decline toward $1.3120. The next major support sits near the $1.30 zone, below which the price could continue lower toward $1.2840. 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 – $1.3320 and $1.3300. Major Resistance Levels – $1.3810 and $1.4120.