XRP Price Stuck In A Tight Cage—Breakout Pressure Keeps Building
Analysis
Price Impact
MedThe article suggests xrp is building pressure for a breakout, with specific resistance and support levels mentioned. while there's potential for a move, it's currently consolidating, indicating moderate impact.
Trustworthiness
MedPrice Direction
BullishThe article highlights a recovery wave and the potential for a fresh move upwards if key resistance levels like $1.3840 are cleared. while it mentions potential declines, the overall tone focuses on upward possibilities.
Time Effect
ShortThe analysis is based on hourly charts and mentions immediate resistance and support levels, suggesting the potential price movements are expected 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 recovery wave above $1.3620 and $1.3650. The price is now consolidating and might aim for a fresh move if it clears $1.3840. XRP price started a recovery wave above the $1.3640 zone. The price is now trading below $1.3820 and the 100-hourly Simple Moving Average. There is a contracting triangle forming with resistance at $1.380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.3840. XRP Price Eyes Fresh Gains XRP price remained supported above $1.350 and started a recovery wave, like Bitcoin and Ethereum . The price was able to climb above $1.3580 and $1.3620 to enter a short-term positive zone. However, the price is still below $1.3850 and the 23.6% Fib retracement level of the downward move from the $1.5495 swing high to the $1.3465 swing low. There is also a contracting triangle forming with resistance at $1.380 on the hourly chart of the XRP/USD pair. The price is now trading below $1.3750 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3780 level. The first major resistance is near the $1.380 level. Source: XRPUSD on TradingView.com A close above $1.380 could send the price to $1.3840. The next hurdle sits at $1.3940. A clear move above the $1.3940 resistance might send the price toward the $1.420 resistance. Any more gains might send the price toward the $1.4480 resistance or the 50% Fib retracement level of the downward move from the $1.5495 swing high to the $1.3465 swing low. Another Decline? If XRP fails to clear the $1.3840 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.360 level. The next major support is near the $1.3580 level. If there is a downside break and a close below the $1.3580 level, the price might continue to decline toward $1.340. The next major support sits near the $1.3380 zone, below which the price could continue lower toward $1.3250. 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 – $1.3600 and $1.3580. Major Resistance Levels – $1.3840 and $1.3940.