XRP Price Recovers Slightly — Next Move Hinges on Tough Resistance
Analysis
Price Impact
MedThe article suggests that xrp is recovering and facing key resistance levels. a decisive move above resistance could lead to further gains, while failure to do so might result in a decline. this indicates potential for price movement, but not an immediate drastic change.
Trustworthiness
HighThe article cites a reputable source for its data (tradingview.com) and highlights a strict editorial policy, including expert review and adherence to accuracy, relevance, and impartiality. this indicates a high level of reliability.
Price Direction
BullishThe article mentions xrp price starting a recovery wave, trading above key moving averages and forming a bullish trend line. it also outlines potential upward targets if resistance levels are overcome, suggesting a bullish short-term outlook.
Time Effect
ShortThe analysis focuses on immediate resistance and support levels, hourly charts, and potential moves in the short term, making the price effect predominantly 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 started a recovery wave above $1.350 but failed near $1.390. The price is now consolidating and might aim for a fresh move above $1.40. XRP price started a recovery wave above the $1.3750 zone. The price is now trading above $1.3720 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $1.3705 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.40. XRP Price Faces Resistance XRP price remained supported above $1.3220 and started a recovery wave, like Bitcoin and Ethereum . The price was able to climb above $1.3350 and $1.350 to enter a short-term positive zone. There was also a move above the 23.6% Fib retracement level of the downward move from the $1.4739 swing high to the $1.3217 low. Besides, there is a bullish trend line forming with support at $1.3705 on the hourly chart of the XRP/USD pair. The bulls even pushed the price above $1.3850 but they struggled to keep the price above $1.3800. The price is now trading above $1.370 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3880 level. Source: XRPUSD on TradingView.com The first major resistance is near the $1.3980 level or the 50% Fib retracement level of the downward move from the $1.4739 swing high to the $1.3217 low. A close above $1.3980 could send the price to $1.4120. The next hurdle sits at $1.420. A clear move above the $1.420 resistance might send the price toward the $1.450 resistance. Any more gains might send the price toward the $1.4650 resistance. Another Drop? If XRP fails to clear the $1.3980 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.370 level and the trend line. The next major support is near the $1.350 level. If there is a downside break and a close below the $1.350 level, the price might continue to decline toward $1.3360. The next major support sits near the $1.3220 zone, below which the price could continue lower toward $1.3050. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.3700 and $1.3500. Major Resistance Levels – $1.3980 and $1.4120.