Expert opinion: bearish #XRP (from Coinsradar.net)

XRP recently broke through the key support levels of $0.4240 and $0.4150, reaching a low of $0.3826 before rebounding. The price is still below $0.4250 and the 100-hour simple moving average (SMA).

Support levels:

- $0.3900

- $0.3850

- $0.3620 (if it continues to fall)

Resistance levels:

- $0.4050

- $0.4150 (50% Fibonacci retracement and key bearish trend line)

- $0.4220

- $0.4380 and $0.4450

Technical indicators

Trend line: A key bearish trend line has formed on the hourly chart with resistance at $0.4150.

Fibonacci Retracement: 50% retracement level meets resistance at $0.4150.

Analysis

XRP/USD may have difficulty in breaking through the $0.4150 resistance zone. Even if it breaks through $0.4050, $0.4150 will remain a strong resistance. If it fails to break through, the price may fall again, and a break below $0.3850 may lead to a further decline to $0.3620.

Recommendations

Holders:

- Pay attention to the $0.4050 and $0.4150 resistance levels, and consider reducing positions if they fail to break through.

- Set a stop loss below $0.3850.

Potential investors:

- Consider new positions after breaking through $0.4150, with a target of $0.4220 and above.

- Or look for buying opportunities at the $0.3620 support level.

Short-term traders:

- Go short when it is difficult to break through $0.4150, target $0.3850, and set the stop loss above the trend line resistance.

- Go long when it breaks through $0.4150, target $0.4220 and $0.4380.

The current market and technical indicators show that XRP's trend is uncertain, and it is necessary to pay close attention to key support and resistance levels and adjust strategies.

Follow me! Get more opinions from big names~ #内容挖矿 There are more exciting content~