XRP Price Reversal at $1.40, Gains Wiped as Bears Return
Analysis
Price Impact
MedThe article details a price reversal for xrp after failing to break through the $1.40 resistance. while it suggests a potential for another increase if it stays above $1.30, the immediate trend described is bearish with key resistance levels forming a bearish trend line.
Trustworthiness
HighPrice Direction
BearishThe article explicitly states that xrp price started a 'downside correction' after failing to clear $1.40, is trading below key levels like the 100-hourly sma, and has a bearish trend line forming. it outlines conditions for a potential increase but focuses on the immediate downward pressure and support levels.
Time Effect
ShortThe analysis is based on hourly charts and mentions immediate support and resistance levels, suggesting a short-term trading outlook rather than a long-term trend prediction.
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 $1.40 zone. The price is now consolidating and might aim for another increase if it stays above the $1.30 zone. XRP price started a downside correction after it failed to clear the $1.40 zone. The price is now trading below $1.340 and the 100-hourly Simple Moving Average. There is a bearish trend line forming with resistance at $1.3550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it settles above $1.3550. XRP Price Dips Again XRP price started a decent upward move above $1.350 and $1.3550, like Bitcoin and Ethereum . The price gained pace for a clear move above the $1.3650 resistance. A high was formed at $1.3963, and the price started a downside correction. There was a move below $1.3650 and $1.350. The price dipped below the 50% Fib retracement level of the upward move from the $1.2940 swing low to the $1.3963 high. The price is now trading below $1.340 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3450 level. The first major resistance is near the $1.3550 level. There is also a bearish trend line forming with resistance at $1.3550 on the hourly chart of the XRP/USD pair, above which the price could rise and test $1.3650. Source: XRPUSD on TradingView.com A clear move above the $1.3650 resistance might send the price toward the $1.3880 resistance. Any more gains might send the price toward the $1.40 resistance. The next major hurdle for the bulls might be near $1.4250. Another Drop? If XRP fails to clear the $1.3450 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3220 level. The next major support is near the $1.3180 level or the 76.4% Fib retracement level of the upward move from the $1.2940 swing low to the $1.3963 high. If there is a downside break and a close below the $1.3180 level, the price might continue to decline toward $1.3110. The next major support sits near the $1.2880 zone, below which the price could continue lower toward $1.2680. Any more losses might call for a test of $1.250. 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 – $1.3180 and $1.3110. Major Resistance Levels – $1.3450 and $1.3550.