Bitcoin

Resistance

Gains

XRP price extended gains and tested the $0.4880 resistance zone. The price corrected gains but the bulls are now protecting the $0.4765 support. 
<ul> 
 <li>XRP price is correcting gains from the $0.4880 resistance zone.</li> 
 <li>The price is now trading above $0.4750 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a spike below a connecting bullish trend line with support at $0.4790 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might climb higher again if it stays above the $0.4765 support zone.</li> 
</ul> 
<h2 id="xrp-price-corrects-gains">XRP Price Corrects Gains</h2> 
XRP price remained in a positive zone above the $0.4740 resistance, unlike <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-back-62k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-reverses-course-3400/" target="_blank" rel="noopener ">Ethereum</a>. The bulls were able to push the price above $0.4840. However, the bears were active near the $0.4880 resistance zone. 
A high was formed at $0.4877 and the price recently started a downside correction. There was a move below the $0.4820 and $0.4800 levels. The price even spiked below the 50% Fib retracement level of the upward wave from the $0.4694 swing low to the $0.4877 high. 
Besides, there was a spike below a connecting bullish trend line with support at $0.4790 on the hourly chart of the XRP/USD pair. However, the bulls are now active near the $0.4765 support and the 61.8% Fib retracement level of the upward wave from the $0.4694 swing low to the $0.4877 high. 
It is now trading above $0.4750 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4820 level. The first major resistance is near the $0.4840 level. The next key resistance could be $0.4880. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627550 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461" alt="XRP Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_187904.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A clear move above the $0.4880 resistance might send the price toward the $0.50 resistance. The next major resistance is near the $0.5050 level. Any more gains might send the price toward the $0.5250 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.4820 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4780 level. 
The next major support is at $0.4765 and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4765 level, the price might continue to decline toward the $0.4650 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 below the 50 level. 
Major Support Levels – $0.4765 and $0.4740. 
Major Resistance Levels – $0.4840 and $0.4880.

XRP Price Dip: Should Investors See This as a Buying Chance?

Spis treści

NewsBTC

Inne artykuły opublikowane 3 lip 2024

Top Analyst Reveals 7 Altcoin Picks for July: Includes PEPE, ONDO, PENDLE, and Others

Deutsche Telekom joins data indexer Subsquid as node runner

U.S. jobless claims increase for ninth straight week, highest since 2018

Bitcoin Price Forecast: Besides ETF Outflow Woes, These Factors Could Shove BTC To $55,000

Analyst Expects Cryptocurrency Surge

Injective Announces the Integration of IoTeX to Offer Seamless Asset Transfer

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!