Markets Turn Red, XRP Remains Above $0.50
XRP is in the $0.500 range. The price is outpacing Bitcoin and may break $0.5120 barrier.
XRP is hoping to get beyond $0.5120.
The price is below $0.5100 and the 100-hour SMA.
XRP/USD broke over a connection negative trend line with resistance at $0.5020 on the hourly chart.
The pair may rise if it breaks $0.5120 barrier.
XRP price seeks stability Increase
Below $0.5050, XRP extended losses. The price fell below $0.5020 before the bulls resurfaced, although losses were less than Bitcoin and Ethereum.
Price rose from $0.4921, a low. Above $0.4980 and $0.500 resistance levels. It crossed the 23.6% Fib retracement level of the $0.5236 swing high to $0.4921 low decline.
Additionally, the hourly XRP/USD chart broke above a connecting negative trend line with resistance at $0.5020. The price is below $0.5100 and the 100-hour SMA.
The upswing may encounter resistance at $0.5080 or the 50% Fib retracement level of the decline from the $0.5236 swing high to the $0.4921 low. Near $0.5120 is the first big resistance.
The next hurdle may be $0.5160. A clean break above $0.5160 might push the stock above $0.5250. More advances might push the price toward $0.5320 or $0.5350. $0.550 may be the next challenge.
Another Fall?
XRP may fall again if it fails to break $0.5080. Near $0.500 is first downside support. Near $0.4950 is the next important support.
After a downward break and closing below $0.4950, the price may fall toward $0.4920. Near $0.4880 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
XRP/USD's hourly RSI is over 50.
Key Support Levels: $0.5000, $0.4950.
Key Resistance Levels: $0.5080, $0.5120.