$XRP
🌕Predictions for the Price of XRP: Bulls Take a Hit, but This Level May Trigger Another Increase🌕
A negative drop began from $0.580 barrier for XRP. Price may rally until it closes below $0.535.
XRP struggles to break $0.5650 and $0.580 barrier.
The price is above $0.535 and the 100 SMA.
On the 4-hour XRP/USD chart, a bullish trend line with support around $0.5350 is formed.
Unless it closes below $0.535, the pair might rise.
XRP Drops To Key Support
XRP has risen from $0.520 in recent days. Above $0.535 and $0.550 barrier levels. Bitcoin and Ethereum were shielded by bears at $0.580 resistance.
Before a drop, the latest high was $0.5792. Price fell below $0.550. It even tested $0.535. Price consolidates losses after a low of $0.5322.
Now over $0.535 and the 100 SMA (4 hours), Ripple's token price. On the 4-hour XRP/USD chart, a bullish trend line with support around $0.5350 is formed. Resistance at $0.5550 is imminent on the upside. The 50% Fib retracement level of the decline from the $0.5793 swing high to the $0.5322 low is approaching.
Above $0.5620, the 61.8% Fib retracement level of the negative move from the $0.5793 swing high to the $0.5322 low, the price might climb above $0.580. Close over $0.580 barrier might start a significant surge.
Around $0.600 is the next resistance. Bulls may surge toward $0.620 barrier if they stay over $0.600. More advances might push price toward $0.650 barrier.
Another Fall?
XRP may fall again if it fails to break $0.5550. Initial downward support is between $0.535 and the trend line.
The next significant support is $0.5220. If price breaks down and closes below $0.5220, it may accelerate lower. Price might retest $0.480 support.
Tech Indicators
4-Hours MACD – XRP/USD's MACD is falling in the negative zone.
Four-hour RSI (Relative Strength Index): XRP/USD is below 50.
Major Support Levels: $0.535, $0.522, $0.480.
Major resistance levels: $0.555, $0.565, $0.580.
