🔥🔥🔥 $XRP Price Set For Comeback: Breaking This Resistance Could Trigger Recovery
XRP Price Consolidation and Potential Upside
Key Points
- Current Trading: XRP is consolidating above the $0.420 support zone, trading at $0.430 above the 100-hour SMA.
- Resistance Levels: A breakout is needed at $0.440 and $0.450 for bullish momentum.
- Chart Pattern: A short-term contracting triangle with resistance at $0.437 is forming.
XRP has established a base above $0.405 and initiated a recovery, climbing above the $0.420 and $0.425 resistance levels. It surpassed the 61.8% Fibonacci retracement of the downward move from $0.450 to $0.4035 but faces resistance at $0.438 and $0.440.
Potential Upside
- Immediate Resistance: $0.437
- Significant Resistance: $0.440 (76.4% Fibonacci level)
- Key Resistance: $0.450
- Targets: Clear move above $0.450 could push the price to $0.472, $0.480, and potentially $0.488.
Potential Decline
- Initial Support: $0.432
- Major Support: $0.420
- Critical Support: A break below $0.420 could lead to $0.405.
Technical Indicators
- #MACD : Losing pace in the bearish zone.
- #RSI : Above 50, indicating potential for gains.
Conclusion
XRP is consolidating with potential for a strong upward move if it breaks the $0.440 and $0.450 resistance levels. Failure to do so might lead to another decline toward $0.405. Key levels to watch are $0.420 for support and $0.450 for resistance.
Source - newsbtc.com
