XRP Price Advances Steadily, Breakout Potential Sparks Bullish Optimism
Analysis
Price Impact
MedThe article suggests potential for xrp to break out, but also highlights immediate resistance levels and the possibility of a downside correction. this indicates a medium impact as it's not a definitive bullish or bearish signal.
Trustworthiness
MedThe article cites specific data sources (kraken, tradingview) and technical indicators (macd, rsi, fib retracement levels), which adds a layer of credibility. however, the reporting on crypto prices often involves inherent volatility and speculative elements, warranting a medium trustworthiness.
Price Direction
NeutralThe article presents both bullish and bearish scenarios. it suggests a potential increase if xrp stays above $1.380 and breaks key resistance levels, but also warns of a decline if it fails to clear resistance zones and breaks below support levels.
Time Effect
ShortThe analysis refers to hourly charts, 100-hourly simple moving average, and immediate resistance/support levels, indicating a focus on short-term 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 failed to surpass $1.50 and started downside correction. The price is now holding the $1.380 support and might aim for another increase. XRP price started a downside correction and declined below $1.450. The price is now trading above $1.40 and the 100-hourly Simple Moving Average. There is a new bearish trend line forming with resistance at $1.410 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above $1.380. XRP Price Rally Cools XRP price failed to stay above $1.480 and started a downside correction, like Bitcoin and Ethereum . The price dipped below the $1.460 and $1.450 levels to enter a negative zone. The price even dipped below the 50% Fib retracement level of the upward move from the $1.3125 swing low to the $1.4936 high. Besides, there is a new bearish trend line forming with resistance at $1.410 on the hourly chart of the XRP/USD pair. The bulls are now active above the $1.380 zone. The price is now trading above $1.40 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.410 level and the trend line. The first major resistance is near the $1.420 level, above which the price could rise and test $1.450. Source: XRPUSD on TradingView.com A clear move above the $1.450 resistance might send the price toward the $1.50 resistance. Any more gains might send the price toward the $1.520 resistance. The next major hurdle for the bulls might be near $1.550. Downside Continuation? If XRP fails to clear the $1.410 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.40 level. The next major support is near the $1.3820 level or the 61.8% Fib retracement level of the upward move from the $1.3125 swing low to the $1.4936 high. If there is a downside break and a close below the $1.3820 level, the price might continue to decline toward $1.3430. The next major support sits near the $1.3250 zone, below which the price could continue lower toward $1.3120. 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 – $1.40 and $1.3820. Major Resistance Levels – $1.410 and $1.450.