Bitcoin

Resistance

XRP price is attempting to recover above the $0.4700 resistance zone. The price could decline again if it fails to clear the $0.4825 resistance zone. 
<ul> 
 <li>XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone.</li> 
 <li>The price is now trading above $0.4720 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a crucial bearish trend line with resistance at $0.4710 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might gain bullish momentum if there is a close above the $0.4825 resistance.</li> 
</ul> 
<h2 id="xrp-price-attempts-recovery">XRP Price Attempts Recovery</h2> 
XRP price attempted a recovery wave above the $0.470 level like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-recovery-62400/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-upside-3480/" target="_blank" rel="noopener ">Ethereum</a>. The bulls were able to push the price above $0.4720 to push the price in a short-term bullish zone. 
There was a break above a crucial bearish trend line with resistance at $0.4710 on the hourly chart of the XRP/USD pair. However, the pair is now facing resistance near the $0.4770 level. A high was formed at $0.4769 and the price is now consolidating losses. 
The price is testing the 23.6% Fib retracement level of the upward move from the $0.4660 swing low to the $0.4769 high. It is now trading above $0.4720 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.4770 level. The first major resistance is near the $0.4785 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance might send the price toward the $0.4880 resistance. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-626808 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461" alt="XRP Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_a5e042.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next major resistance is near the $0.500 level. A close above the $0.500 resistance zone could send the price higher toward $0.5120. Any more gains might send the price toward the $0.5250 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.4770 resistance zone, it could start another decline. Initial support on the downside is near the $0.4740 level and the 100-hourly Simple Moving Average. 
The next major support is at $0.470. If there is a downside break and a close below the $0.4700 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4620 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.4700 and $0.4620. 
Major Resistance Levels – $0.4770 and $0.4825.

XRP Price Fails To Ignite: Understanding The Downward Risks

Съдържание

NewsBTC

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