XRP Price Bounce Losing Steam, Failure Signals Could Emerge

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 $1.40 and $1.4150. The price is now consolidating and might aim for a fresh move if it clears $1.4650. XRP price started a recovery wave above the $1.420 zone. The price is now trading above $1.420 and the 100-hourly Simple Moving Average. There is a rising channel forming with support at $1.4190 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.4650. XRP Price Holds Support XRP price remained supported above $1.3920 and started a recovery wave, like Bitcoin and Ethereum . The price was able to climb above $1.4050 and $1.4120 to enter a short-term positive zone. There was also a move above the 38.2% Fib retracement level of the downward move from the $1.510 swing high to the $1.3917 swing low. However, the bears are now active near the $1.450 zone. Besides, there is a rising channel forming with support at $1.4190 on the hourly chart of the XRP/USD pair. The price is now trading above $1.420 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.450 level or the 50% Fib retracement level of the downward move from the $1.510 swing high to the $1.3917 swing low. Source: XRPUSD on TradingView.com The first major resistance is near the $1.4650 level.  A close above $1.4650 could send the price to $1.490. The next hurdle sits at $1.50. A clear move above the $1.50 resistance might send the price toward the $1.5180 resistance. Any more gains might send the price toward the $1.5320 resistance. Another Drop? If XRP fails to clear the $1.4650 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.420 level. The next major support is near the $1.40 level. If there is a downside break and a close below the $1.40 level, the price might continue to decline toward $1.3750. The next major support sits near the $1.3620 zone, below which the price could continue lower toward $1.350. 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 – $1.40 and $1.3750. Major Resistance Levels – $1.4500 and $1.4650.