XRP Price Targets Strong Recovery: Key Indicators and Predictions
24 Junio 2024 - 10:58PM
NEWSBTC
XRP price extended losses and tested the $0.4620 support. The price
is now recovering and might gain bullish momentum if it clears the
$0.4825 resistance. XRP price remained in a bearish zone and tested
the $0.4620 support zone. The price is now trading below $0.4820
and the 100-hourly Simple Moving Average. There is a key bearish
trend line forming with resistance at $0.4785 on the hourly chart
of the XRP/USD pair (data source from Kraken). The pair could
recover steadily if there is a move above $0.4800 and $0.4820. XRP
Price Forms Support XRP price failed to clear the $0.4820
resistance zone and started another decline like Bitcoin and
Ethereum. There was a move below the $0.480 and $0.4750 levels. The
price even spiked below $0.4650. However, the bulls were active
near $0.4620. A low was formed at $0.4619 and the price is now
recovering losses. There was an upward move above the $0.4680 and
$0.4720 resistance levels. The price cleared the 50% Fib
retracement level of the downward move from the $0.4885 swing high
to the $0.4619 low. It is now trading below $0.4850 and the
100-hourly Simple Moving Average. On the upside, the price is
facing resistance near the $0.4780 level. There is also a key
bearish trend line forming with resistance at $0.4785 on the hourly
chart of the XRP/USD pair. The trend line is close to the 61.8% Fib
retracement level of the downward move from the $0.4885 swing high
to the $0.4619 low. The first major resistance is near the $0.4825
level. A clear move above the $0.4825 resistance might send the
price toward the $0.4880 resistance. The next major resistance is
near the $0.500 level. A close above the $0.500 resistance zone
could send the price higher. The next key resistance is near
$0.5250. Any more gains might send the price toward the $0.5500
resistance. Another Decline? If XRP fails to clear the $0.4825
resistance zone, it could start another decline. Initial support on
the downside is near the $0.4680 level. The next major support is
at $0.4620. If there is a downside break and a close below the
$0.4620 level, the price might decline further. In the stated case,
the price could even trade below the $0.450 support in the near
term. Technical Indicators Hourly MACD – The MACD for XRP/USD is
now gaining pace in the bullish zone. Hourly RSI (Relative Strength
Index) – The RSI for XRP/USD is now above the 50 level. Major
Support Levels – $0.4680 and $0.4620. Major Resistance Levels –
$0.4800 and $0.4825.
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