XRP Price Reaches Support: Will It Trigger a Turnaround?
12 Agosto 2024 - 7:18AM
NEWSBTC
XRP price started a downside correction from the $0.6480
resistance. The price is now testing the $0.550 support and might
eye a fresh increase. XRP price started a downside correction below
the $0.620 and $0.600 levels. The price is now trading below $0.600
and the 100-hourly Simple Moving Average. There is a key bearish
trend line forming with resistance at $0.5750 on the hourly chart
of the XRP/USD pair (data source from Kraken). The pair could start
a fresh increase if it clears the $0.580 resistance zone. XRP Price
Hits Key Support XRP price struggled to extend gains above the
$0.6450 and $0.650 levels. The price started a downside correction
below the $0.600 level like Ethereum and Bitcoin. There was a move
below the $0.5850 and $0.580 support levels. The price dipped below
the 50% Fib retracement level of the upward wave from the $0.4925
swing low to the $0.6475 high. However, the bulls are now active
near the $0.5500 support. The 61.8% Fib retracement level of the
upward wave from the $0.4925 swing low to the $0.6475 high is
acting as a support. The price is now trading below $0.600 and the
100-hourly Simple Moving Average. On the upside, the price is
facing hurdles near the $0.570 level. The first major resistance is
near the $0.5750 level. There is also a key bearish trend line
forming with resistance at $0.5750 on the hourly chart of the
XRP/USD pair. The next key resistance could be $0.580. A
clear move above the $0.580 resistance might send the price toward
the $0.5950 resistance. The next major resistance is near the
$0.600 level. Any more gains might send the price toward the $0.620
resistance or even $0.650 in the near term. More Downsides? If XRP
fails to clear the $0.580 resistance zone, it could continue to
move down. Initial support on the downside is near the $0.5520
level. The next major support is at $0.550. If there is a downside
break and a close below the $0.550 level, the price might continue
to decline toward the $0.5320 support. The next major support sits
at $0.5250. 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 – $0.5550 and $0.5500. Major Resistance Levels
– $0.5750 and $0.5800.
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Lug 2024 a Ago 2024
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Ago 2023 a Ago 2024