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đŸ€” XRP Price Dips: Another Setback or a Buying Opportunity? ● XRP is showing a few bearish signs from the $0.5420 zone. ● The price is now trading below $0.5350 and the 100-hourly Simple Moving Average. ● There was a break below a key contracting triangle with support at $0.5360 on the hourly chart of the XRP/USD pair (data source from Kraken). ● The pair could gain bearish momentum if it stays below the $0.5420 resistance zone. 🔾 XRP Price Faces Rejection After a close above the $0.5320 level, XRP price extended its increase like Bitcoin and Ethereum. However, the bears were active near the $0.5420 resistance zone. A high was formed at $0.5422 and the price started a downside correction. There was a move below the $0.5320 support zone and the 23.6% Fib retracement level of the upward move from the $0.5028 swing low to the $0.5422 high. Besides, there was a break below a key contracting triangle with support at $0.5360 on the hourly chart of the XRP/USD pair. The pair is now trading below $0.5350 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5320 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5450. If the bulls push the price above the $0.5450 resistance level, there could be a steady increase toward the $0.5550 resistance. Any more gains might send the price toward the $0.5740 resistance. đŸ”» More Losses? If XRP fails to clear the $0.5420 resistance zone, it could start another decline within the range. Initial support on the downside is near the $0.5225 level and the 50% Fib retracement level of the upward move from the $0.5028 swing low to the $0.5422 high. The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.5025 support in the near term. $XRP #XRP

đŸ€” XRP Price Dips: Another Setback or a Buying Opportunity?

● XRP is showing a few bearish signs from the $0.5420 zone.

● The price is now trading below $0.5350 and the 100-hourly Simple Moving Average.

● There was a break below a key contracting triangle with support at $0.5360 on the hourly chart of the XRP/USD pair (data source from Kraken).

● The pair could gain bearish momentum if it stays below the $0.5420 resistance zone.

🔾 XRP Price Faces Rejection

After a close above the $0.5320 level, XRP price extended its increase like Bitcoin and Ethereum. However, the bears were active near the $0.5420 resistance zone.

A high was formed at $0.5422 and the price started a downside correction. There was a move below the $0.5320 support zone and the 23.6% Fib retracement level of the upward move from the $0.5028 swing low to the $0.5422 high.

Besides, there was a break below a key contracting triangle with support at $0.5360 on the hourly chart of the XRP/USD pair. The pair is now trading below $0.5350 and the 100-hourly Simple Moving Average.

Immediate resistance is near the $0.5320 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5450. If the bulls push the price above the $0.5450 resistance level, there could be a steady increase toward the $0.5550 resistance. Any more gains might send the price toward the $0.5740 resistance.

đŸ”» More Losses?

If XRP fails to clear the $0.5420 resistance zone, it could start another decline within the range. Initial support on the downside is near the $0.5225 level and the 50% Fib retracement level of the upward move from the $0.5028 swing low to the $0.5422 high.

The next major support is at $0.5120. If there is a downside break and a close below the $0.5120 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.5025 support in the near term.

$XRP #XRP

Aviso legal: Se incluyen opiniones de terceros. Esto no respresenta una asesoría financiera. Puede haber contenido patrocinado. Lee los TyC.
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