XRP Price Reversal Gathers Speed, Downside Pressure Intensifies
Analysis
Price Impact
MedThe article suggests a potential downside correction for xrp, breaking below key support levels. while not a catastrophic drop, it indicates a shift in momentum that could affect short-term price action.
Trustworthiness
MedThe article cites 'strict editorial policy' and 'industry experts' but also includes an advertisement disclaimer, suggesting a mix of professional content and sponsored material. the analysis relies on technical indicators and price action, which are standard but not foolproof.
Price Direction
BearishThe article explicitly states that xrp 'failed to stay above $1.3950 and started a downside correction' and that 'downside pressure intensifies.' technical indicators like the macd in the bearish zone and rsi below 50 further support a bearish outlook in the short term.
Time Effect
ShortThe analysis focuses on immediate price action, referencing 'hourly charts,' '100-hourly simple moving average,' and potential support/resistance levels within the current trading day or immediate future.
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 stay above $1.3950 and started a downside correction. The price is now holding the $1.3680 support but is at risk of more losses. XRP price started a downside correction and declined below $1.4050. The price is now trading near $1.3720 and the 100-hourly Simple Moving Average. There is a new bearish trend line forming with resistance at $1.3910 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above $1.3680. XRP Price Corrects Gains XRP price failed to stay above $1.4120 and started a downside correction, like Bitcoin and Ethereum . The price dipped below the $1.4050 and $1.4020 levels to enter a negative zone. The price even dipped below the 50% Fib retracement level of the upward move from the $1.3217 swing low to the $1.4430 high. Besides, there is a new bearish trend line forming with resistance at $1.3910 on the hourly chart of the XRP/USD pair. The price is now trading near $1.3720 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3840 level. The first major resistance is near the $1.3920 level, above which the price could rise and test $1.40. Source: XRPUSD on TradingView.com A clear move above the $1.40 resistance might send the price toward the $1.4140 resistance. Any more gains might send the price toward the $1.4250 resistance. The next major hurdle for the bulls might be near $1.450. More Downside? If XRP fails to clear the $1.40 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.370 level. The next major support is near the $1.3680 level and the 61.8% Fib retracement level of the upward move from the $1.3217 swing low to the $1.4430 high. If there is a downside break and a close below the $1.3680 level, the price might continue to decline toward $1.340. The next major support sits near the $1.3250 zone, below which the price could continue lower toward $1.3120. Any more losses might call for a test of $1.3050. 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 – $1.3680 and $1.3250. Major Resistance Levels – $1.3910 and $1.4000.