XRP Price May Restart: Will Bulls Lead?
A negative reversal began below $0.650 for XRP. The price is approaching $0.6120 and may rise again.
XRP pulled down from $0.6650 barrier.
The price is below $0.6450 and the 100-hour SMA.
On the hourly XRP/USD chart, a negative trend line connects to resistance at $0.6350 (Kraken).
If it breaks $0.6320 and $0.6350 resistance, the pair may rise again.
XRP Price May Rise
XRP surged beyond $0.620, topping Bitcoin and Ethereum. The price passed $0.650 before bears emerged. A negative correction began when the price reached $0.6642.
It fell below $0.6450 and $0.6350. The price approached $0.6100. The price is consolidating losses after a low of $0.6091. A little advance over $0.6200 occurred.
Price rose beyond the 23.6% Fib retracement of the dip from $0.6642 swing high to $0.6091 low. The price is above $0.6150 and the 100-hour SMA. Price may find resistance at $0.6320 on the upside.
On the hourly XRP/USD chart, a negative trend line connects to $0.6350 resistance. The 50% Fib retracement level of the decline from the $0.6642 swing high to the $0.6091 low is near.
Near $0.6420 is the first big resistance. The next hurdle may be $0.6500. A clean break above $0.6500 might push the stock above $0.6640. More advances might push the price toward $0.680 or $0.700.
More Losses?
If XRP fails to break $0.6350, it may fall. Initial downside support is $0.6150. Near $0.6080 is the next important support.
If the price breaks down and closes below $0.6080, it may fall toward $0.600. The next significant support is $0.580.
Hourly MACD on XRP/USD is falling in the negative zone.
Relative Strength Index hourly XRP/USD RSI is below 50.
Key Support Levels: $0.6150, $0.6080.
Major resistance levels: $0.6320, $0.6350.
