Bitcoin

Momentum

Resistance

XRP price extended losses and tested the $0.4440 support zone. The price is correcting losses sharply and might soon retest the $0.4720 resistance. 
<ul> 
 <li>XRP price is correcting losses from the $0.4440 support zone.</li> 
 <li>The price is now trading below $0.4650 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break below a key bullish trend line with support at $0.480 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 $0.450 support zone.</li> 
</ul> 
<h2 id="xrp-price-revisits-support">XRP Price Revisits Support</h2> 
XRP price struggled to clear the $0.4850 resistance and started a fresh decline, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-takes-hit-58k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-plummets-3150/" target="_blank" rel="noopener ">Ethereum</a>. The bears took control and pushed the price below the $0.470 support. There was a break below a key bullish trend line with support at $0.480 on the hourly chart of the XRP/USD pair. 
The pair even declined heavily below the $0.4550 support level. However, the bulls protected the $0.4440 support level. A low was formed at $0.4439 and the price is now correcting losses. There was a recovery wave above the $0.4520 resistance. 
The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.4878 swing high to the $0.4439 low. It is now trading below $0.4650 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.4620 level. The first major resistance is near the $0.4650 level and the 50% Fib retracement level of the recent decline from the $0.4878 swing high to the $0.4439 low. The next key resistance could be $0.4720. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627750 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9a689d.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A clear move above the $0.4720 resistance might send the price toward the $0.4850 resistance. The next major resistance is near the $0.500 level. 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 $0.4650 resistance zone, it could start another decline. Initial support on the downside is near the $0.4520 level. 
The next major support is at $0.4440. If there is a downside break and a close below the $0.4440 level, the price might continue to decline toward the $0.4320 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 – $0.4520 and $0.4440. 
Major Resistance Levels – $0.4620 and $0.4650.

XRP Price Ready for Bullish Spike: Fading Bearish Momentum and Solid Support

Mục lục

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