🔥🔥🔥 #Xrp🔥🔥 Bulls Face Continued Pressure: Key Challenges Ahead
XRP Price Struggles Below $0.4250 Support Zone
Key Points:
- Recovery Struggle: XRP failed to break above the $0.450 resistance, leading to another decline.
- Current Trading Levels: Trading below $0.4250 and the 100-hourly SMA.
- #BEARISH📉 Trend Line: Resistance at $0.420 on the hourly chart.
- Upside Challenges: Significant resistance at $0.4350 and $0.450.
XRP Price Moves In The Red Zone
- XRP struggled to clear the $0.450 resistance, triggering a fresh decline similar to Bitcoin and Ethereum. Bears pushed the price below the $0.4320 and $0.4250 support levels. Bulls are now trying to protect the $0.4050 support zone.
- Currently, XRP is trading below $0.4250 and the 100-hourly SMA. Resistance is near $0.4160, with major resistance around $0.420. A move above $0.4220 could push the price towards $0.4380 and potentially $0.450, with further gains targeting $0.4650.
Potential for More Losses
- If XRP fails to clear $0.420, another decline may ensue. Initial support is near $0.4050, aligning with the 61.8% Fibonacci retracement level. The next major support is at $0.40, with a break below this level potentially leading to a decline towards $0.3750.
Technical Indicators
- Hourly MACD: Gaining momentum in the bearish zone.
- Hourly RSI: Below the 50 level.
Support and Resistance Levels
- Major Support: $0.4050 and $0.400.
- Major Resistance: $0.420 and $0.4380.
Source - newsbtc.com
