XRP Price Flashes Bearish Signals: Are More Losses Coming?
23 Outubro 2024 - 1:18AM
NEWSBTC
XRP price is moving lower below the $0.5500 level. The bears might
gain strength if there is a close below the $0.5200 support zone.
XRP price is correcting gains below the $0.5500 zone. The price is
now trading below $0.5450 and the 100-hourly Simple Moving Average.
There is a new connecting bearish trend line forming with
resistance at $0.5365 on the hourly chart of the XRP/USD pair (data
source from Kraken). The pair could gain bearish momentum if it
declines below the $0.5200 support zone. XRP Price Dips Further XRP
price struggled to extend gains above the $0.5600 level and started
a downside correction, like Bitcoin and Ethereum. There was a move
below the $0.5550 and $0.5500 levels. The price even dipped below
$0.5320 and tested $0.5290. A low was at $0.5292 and the price is
now consolidating losses and trading below the 23.6% Fib
retracement level of the downward move from the $0.5600 swing high
to the $0.5292 low. The price is now trading below $0.5450 and the
100-hourly Simple Moving Average. On the upside, the price might
face resistance near the $0.5365 level. There is also a new
connecting bearish trend line forming with resistance at $0.5365 on
the hourly chart of the XRP/USD pair. The first major resistance is
near the $0.5440 level. It is close to the 50% Fib retracement
level of the downward move from the $0.5600 swing high to the
$0.5292 low. The next key resistance could be $0.5520. A clear move
above the $0.5520 resistance might send the price toward the
$0.5500 resistance. Any more gains might send the price toward the
$0.5600 resistance or even $0.5650 in the near term. The next major
hurdle might be $0.5800. More Losses? If XRP fails to clear the
$0.5365 resistance zone, it could start another decline. Initial
support on the downside is near the $0.5280 level. The next major
support is near the $0.5220 level. If there is a downside break and
a close below the $0.5220 level, the price might continue to
decline toward the $0.5050 support in the near term. The next major
support sits near the $0.500 zone. 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 – $0.5280 and $0.5220.
Major Resistance Levels – $0.5365 and $0.5520.
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