XRP Price Faces Support Test: Is a Rebound on The Horizon?
31 Ottobre 2024 - 6:18AM
NEWSBTC
XRP price is correcting gains from the $0.530 zone. The price is
testing the $0.520 support and might bounce back to start a fresh
increase. XRP price is eyeing more gains above the $0.5300 zone.
The price is now trading above $0.5200 and the 100-hourly Simple
Moving Average. There is a key bullish trend line forming with
support at $0.520 on the hourly chart of the XRP/USD pair (data
source from Kraken). The pair could gain bullish momentum if it
settles above the $0.5300 resistance zone. XRP Price Revisits
Support XRP price started a decent upward move above the $0.5150
zone. There was a move above the $0.520 resistance but it lagged
Bitcoin and Ethereum. The bulls were able to push the price above
the $0.5250 resistance. The price traded as high as $0.5307 and is
currently correcting gains. There was a drop below the $0.5265
level. The price dipped below the 50% Fib retracement level of the
upward wave from the $0.5111 swing low to the $0.5307 high. The
price is now trading above $0.5200 and the 100-hourly Simple Moving
Average. There is also a key bullish trend line forming with
support at $0.520 on the hourly chart of the XRP/USD pair. On the
upside, the price might face resistance near the $0.5250 level. The
first major resistance is near the $0.5300 level. The next key
resistance could be $0.5320. A clear move above the $0.5320
resistance might send the price toward the $0.5450 resistance. Any
more gains might send the price toward the $0.5550 resistance or
even $0.5850 in the near term. The next major hurdle might be
$0.6000. Downside Break? If XRP fails to clear the $0.5250
resistance zone, it could start another decline. Initial support on
the downside is near the $0.5200 level. The next major support is
near the $0.5185 level and the 61.8% Fib retracement level of the
upward wave from the $0.5111 swing low to the $0.5307 high. If
there is a downside break and a close below the $0.5185 level, the
price might continue to decline toward the $0.5050 support in the
near term. The next major support sits near the $0.5000 zone.
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 below the 50 level. Major
Support Levels – $0.5200 and $0.5185. Major Resistance Levels –
$0.5250 and $0.5300.
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Ripple (COIN:XRPUSD)
Storico
Da Dic 2023 a Dic 2024