XRP Price Stalls Again, Can Bulls Overcome Crucial Hurdles?
Analysis
Price Impact
MedThe article discusses xrp's price action, noting consolidation and potential for gains if key resistance levels are broken, but also highlights the risk of further decline if support levels fail. this suggests moderate short-term volatility.
Trustworthiness
HighPrice Direction
NeutralThe article presents both bullish and bearish scenarios. it suggests potential gains if resistance at $1.4250 and $1.4400 is overcome, but also warns of a decline if support at $1.4000 and $1.3850 breaks. this balance indicates a neutral short-term outlook.
Time Effect
ShortThe analysis focuses on hourly charts, moving averages, and immediate support/resistance levels, indicating that the price movements discussed are likely 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 started a downside correction from the $1.4650 zone. The price is now consolidating and might aim for more gains if it stays above the $1.40 zone. XRP price started a fresh increase above the $1.420 zone. The price is now trading above $1.40 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $1.40 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.4250. XRP Price Holds Support XRP price started a decent upward move above $1.4120 and $1.4250, like Bitcoin and Ethereum . The price gained pace for a clear move above the $1.450 resistance. A high was formed at $1.4650 and the price started a downside correction. There was a move below $1.450 and $1.440. The price dipped below the 61.8% Fib retracement level of the upward move from the $1.3612 swing low to the $1.4650 high. However, the bulls were active above $1.3850 and the 76.4% Fib retracement level of the upward move from the $1.3612 swing low to the $1.4650 high. 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 $1.4250 level. The first major resistance is near the $1.440 level, above which the price could rise and test $1.4650. Source: XRPUSD on TradingView.com 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. Another Drop? If XRP fails to clear the $1.4250 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 $1.3850 level. If there is a downside break and a close below the $1.3850 level, the price might continue to decline toward $1.3780. The next major support sits near the $1.3620 zone, below which the price could continue lower toward $1.350. Any more losses might call for a test of $1.3320. 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 – $1.4000 and $1.3850. Major Resistance Levels – $1.4250 and $1.4400.