XRP Price Sets Stage for Comeback — Recovery Wave Incoming?
Analysis
Price Impact
MedThe article suggests a potential recovery for xrp after a period of losses, but it highlights significant resistance levels that need to be overcome for a sustained comeback. the technical indicators are mixed, indicating uncertainty.
Trustworthiness
HighThe article is from a reputable source with a stated focus on accuracy and impartiality, reviewed by industry experts. the analysis is based on technical indicators and price action, which are standard methods in crypto analysis.
Price Direction
NeutralThe article presents both potential upside scenarios if resistance is broken and downside scenarios if support fails. it emphasizes consolidation and immediate hurdles, suggesting a neutral short-term outlook until key levels are breached.
Time Effect
ShortThe analysis focuses on hourly charts and immediate resistance/support levels, indicating that the described price movements are expected to occur in the short term.
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 $1.3550 and $1.380. XRP price started another decline and traded below the $1.3550 zone. The price is now trading below $1.3620 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.3520 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it stays below $1.380. XRP Price Extends Losses XRP price failed to stay above $1.3740 and extended its decline, like Bitcoin and Ethereum . The price declined below $1.3650 and $1.3550 to enter a short-term bearish zone. The price even extended losses below $1.3350. A low was formed at $1.3217, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $1.4739 swing high to the $1.3217 low. The price is now trading below $1.3550 and the 100-hourly Simple Moving Average. If there is a fresh recovery move, the price might face resistance near the $1.3520 level. There is also a key bearish trend line forming with resistance at $1.3520 on the hourly chart of the XRP/USD pair. The first major resistance is near the $1.380 level. The main resistance could be $1.3980 or the 50% Fib retracement level of the downward move from the $1.4739 swing high to the $1.3217 low. Source: XRPUSD on TradingView.com A close above $1.3980 could send the price to $1.420. The next hurdle sits at $1.4250. A clear move above the $1.4250 resistance might send the price toward the $1.450 resistance. Any more gains might send the price toward the $1.4750 resistance. The next major hurdle for the bulls might be near $1.50. Downside Break? If XRP fails to clear the $1.380 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3365 level. The next major support is near the $1.3220 level. If there is a downside break and a close below the $1.3220 level, the price might continue to decline toward $1.3120. The next major support sits near the $1.3080 zone, below which the price could continue lower toward $1.30. 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 – $1.3365 and $1.3220. Major Resistance Levels – $1.3800 and $1.3980.