XRP Price Defends Support: Will Bulls Take Over?
24 Settembre 2024 - 6:18AM
NEWSBTC
XRP price is consolidating above the $0.5785 support. The price
must settle above $0.5920 and $0.600 to start a fresh increase in
the near term. XRP price is still trading below the $0.600
resistance zone. The price is now trading below $0.590 and the
100-hourly Simple Moving Average. There is a major bearish trend
line forming with resistance at $0.5850 on the hourly chart of the
XRP/USD pair (data source from Kraken). The pair could gain bullish
momentum if it clears the $0.5920 and $0.600 resistance levels. XRP
Price Holds Key Support XRP price struggled to stay above $0.6050
and started a downside correction like Bitcoin and Ethereum. The
price declined below the $0.600 and $0.590 support levels. However,
the bulls remained active near $0.5785, and the price bounced back
to test $0.5950. It is again moving lower below the $0.5920 level.
There was a break below the 50% Fib retracement level of the upward
move from the $0.5784 swing low to the $0.5956 high. The price is
now trading below $0.590 and the 100-hourly Simple Moving Average.
It is finding bids near the 76.4% Fib retracement level of the
upward move from the $0.5784 swing low to the $0.5956 high at
$0.5825. On the upside, the price might face resistance near the
$0.5850 level. There is also a major bearish trend line forming
with resistance at $0.5850 on the hourly chart of the XRP/USD pair.
The first major resistance is near the $0.5920 level. The next key
resistance could be $0.600. A clear move above the $0.600
resistance might send the price toward the $0.6120 resistance. Any
more gains might send the price toward the $0.6250 resistance or
even $0.6320 in the near term. More Losses? If XRP fails to clear
the $0.5920 resistance zone, it could start another decline.
Initial support on the downside is near the $0.5825 level. The next
major support is near the $0.5780 level. If there is a downside
break and a close below the $0.5780 level, the price might continue
to decline toward the $0.5650 support in the near term. The next
major support sits at $0.5550. 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 – $0.5825 and $0.5780.
Major Resistance Levels – $0.5920 and $0.6000.
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Set 2023 a Set 2024