XRP Consolidates Below $2.50
Despite Bitcoin pressure, XRP is over $2.25. Price consolidation and a new rise over $2.40 barrier are underway.
XRP is experiencing some improvement over $2.25.
The price is below $2.3650 and the 100-hour SMA.
The hourly XRP/USD chart shows a negative trend line with resistance around $2.380.
If it remains over $2.250, the pair may rise again.
XRP Consolidates Below $2.50
XRP fails to break $2.40 and $2.45 resistance. The price responded to downsides, although losses were less than Bitcoin and Ethereum. Below $2.32 and $2.25 support levels.
The price is stabilizing after making a swing low at $2.202. Price rose over $2.25. The price crossed the 50% Fib retracement level of the $2.47 swing high to $2.202 low decline.
The price is below $2.3650 and the 100-hour SMA. Price may find resistance at $2.380 on the upside. On the hourly XRP/USD chart, a negative trend line with resistance around $2.380 is formed.
The first big barrier is $2.40, the 76.4% Fib retracement level of the decline from $2.47 swing high to $2.202 low.
The next hurdle is $2.45. A clean break over $2.45 might push the market above $2.50. More advances might push the price toward $2.650 or $2.6650. The bulls may face $2.720 next.
More Losses?
XRP may fall again if it fails to break $2.400. Around $2.320 is first downward support. Near $2.250 is the next key support.
A downward break and closing below $2.250 might push the price near $2.20. Near $2.120 is the next key support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.32, $2.250.
Major resistance levels: $2.380, $2.400.
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