XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles?
XRP price is slowly moving higher from the $0.40 support zone. The price is consolidating and might aim for a decent increase above $0.45. Here’s the breakdown:$XRP
1️⃣ Current Status
XRP is attempting a recovery wave above $0.42.
Trading above $0.4250 and the 100-hourly Simple Moving Average.
Break above a bearish trend line at $0.42 on the hourly chart (Kraken data).
Potential increase if it clears $0.4450 and $0.45 resistance levels.
2️⃣ XRP Price Recovery
Stable above $0.40, starting a recovery like Bitcoin and Ethereum.
Climb above $0.4120 and $0.4150 resistance levels.
Break above bearish trend line at $0.42.
Spike above 61.8% Fib retracement level from $0.4499 high to $0.4035 low.
Move toward $0.44.
Trading above $0.4250 and 100-hourly SMA.
3️⃣ Resistance Levels
Facing resistance near $0.4385 or 76.4% Fib retracement level from $0.4499 high to $0.4035 low.
First major resistance at $0.4450.
Next key resistance at $0.45.
Clear move above $0.45 could target $0.4650 and $0.4720.
Further gains might target $0.4840.
4️⃣ Potential Decline?
Failure to clear $0.4450 resistance could lead to another decline.
Initial support near $0.42.
Next major support at $0.4050.
Break below $0.4050 could continue the decline to $0.3880.
5️⃣ Technical Indicators
Hourly MACD: Losing pace in the bearish zone.
Hourly RSI: Above the 50 level.
Major Support Levels: $0.42 and $0.4050.
Major Resistance Levels: $0.4450 and $0.45.
Stay tuned for more crypto insights! 👍
Disclaimer: This post is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.
