XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles?
08 Julio 2024 - 11:48PM
NEWSBTC
XRP price is slowly moving higher from the $0.400 support zone. The
price is consolidating and might aim for a decent increase above
$0.450. XRP price is attempting a recovery wave above the $0.420
zone. The price is now trading above $0.4250 and the 100-hourly
Simple Moving Average. There was a break above a connecting bearish
trend line with resistance at $0.420 on the hourly chart of the
XRP/USD pair (data source from Kraken). The pair might start a
decent increase if it clears the $0.4450 and $0.450 resistance
levels. XRP Price Eyes Recovery XRP price remained stable above the
$0.40 level and recently started a recovery wave, like Bitcoin and
Ethereum. The price was able to climb above the $0.4120 and $0.4150
resistance levels. There was a break above a connecting bearish
trend line with resistance at $0.420 on the hourly chart of the
XRP/USD pair. The pair even spiked above the 61.8% Fib retracement
level of the downward move from the $0.4499 swing high to the
$0.4035 low. There was a move toward the $0.440 level. The price is
now trading above $0.4250 and the 100-hourly Simple Moving Average.
On the upside, the price is facing resistance near the $0.4385
level or the 76.4% Fib retracement level of the downward move from
the $0.4499 swing high to the $0.4035 low. The first major
resistance is near the $0.4450 level. The next key resistance could
be $0.450. A clear move above the $0.450 resistance might send the
price toward the $0.4650 resistance. The next major resistance is
near the $0.4720 level. Any more gains might send the price toward
the $0.4840 resistance. Another Decline? If XRP fails to clear the
$0.4450 resistance zone, it could start another decline. Initial
support on the downside is near the $0.420 level. The next major
support is at $0.4050. If there is a downside break and a close
below the $0.4050 level, the price might continue to decline toward
the $0.3880 support in the near term. Technical Indicators Hourly
MACD – The MACD for XRP/USD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now
above the 50 level. Major Support Levels – $0.4200 and $0.4050.
Major Resistance Levels – $0.4450 and $0.4500.
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