XRP
price
failed
to
recover
above
the
$0.50
resistance
zone.
The
price
is
again
moving
lower
and
there
is
risk
of
more
downsides
below
$0.4840.

• XRP
  is
  still
  showing
  bearish
  signs
  and
  struggled
  near
  $0.50.
• The
  price
  is
  now
  trading
  below
  $0.4920
  and
  the
  100-hourly
  Simple
  Moving
  Average.
• There
  is
  a
  key
  contracting
  triangle
  forming
  with
  resistance
  at
  $0.4950
  on
  the
  hourly
  chart
  of
  the
  XRP/USD
  pair
  (data
  source
  from
  Kraken).
• The
  pair
  could
  recover,
  but
  the
  bears
  might
  be
  active
  near
  the
  $0.4950
  resistance.

XRP
Price
Dips

XRP
price
failed
to
recover
above
the
$0.50
resistance
like

Ethereum
and

Bitcoin.
The
price
peaked
near
the
$0.4981
level
and
recently
started
another
decline.

There
was
a
move
below
the
$0.4980
and
$0.4950
levels.
The
price
declined
below
the
23.6%
Fib
retracement
level
of
the
upward
move
from
the
$0.4701
swing
low
to
the
$0.4981
high.
It
is
now
trading
below
$0.4920
and
the
100-hourly
Simple
Moving
Average.

 

The
bulls
are
now
active
near
the
$0.4840
support
and
the
50%
Fib
retracement
level
of
the
upward
move
from
the
$0.4701
swing
low
to
the
$0.4981
high.

On
the
upside,
the
price
is
facing
resistance
near
the
$0.4920
level.
The
first
key
resistance
is
near
$0.4950.
There
is
also
a
key
contracting
triangle
forming
with
resistance
at
$0.4950
on
the
hourly
chart
of
the
XRP/USD
pair.
The
next
major
resistance
is
near
the
$0.50
level.

A
close
above
the
$0.50
resistance
zone
could
send
the
price
higher.
The
next
key
resistance
is
near
$0.5050.
If
there
is
a
close
above
the
$0.5050
resistance
level,
there
could
be
a
steady
increase
toward
the
$0.5250
resistance.
Any
more
gains
might
send
the
price
toward
the
$0.5320
resistance.

More
Losses?

If
XRP
fails
to
clear
the
$0.4950
resistance
zone,
it
could
continue
to
move
down.
Initial
support
on
the
downside
is
near
the
$0.4840
level.

 

The
next
major
support
is
at
$0.4765.
If
there
is
a
downside
break
and
a
close
below
the
$0.4765
level,
the
price
might
accelerate
lower.
In
the
stated
case,
the
price
could
decline
and
retest
the
$0.4550
support
in
the
near
term.

Technical
Indicators

Hourly
MACD
–
The
MACD
for
XRP/USD
is
now
gaining
pace
in
the
bearish
zone.

Hourly
RSI
(Relative
Strength
Index)
–
The
RSI
for
XRP/USD
is
now
below
the
50
level.

Major
Support
Levels
–
$0.4840
and
$0.4765.

Major
Resistance
Levels
–
$0.4950
and
$0.5000.

Go to Source
Author: Aayush Jindal

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