Bitcoin

Resistance

XRP price extended its decline below the $0.520 support. The price is now trading in a range and eyeing an upside break above the $0.5320 resistance. 
<ul> 
 <li>XRP extended losses and declined below the $0.5120 support.</li> 
 <li>The price is now trading above $0.5250 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bearish trend line forming with resistance at $0.5325 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could gain bullish momentum if it clears the $0.5365 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-holds-ground">XRP Price Holds Ground</h2> 
In the past two sessions, XRP price saw a steady decline below the $0.5320 level. There were a few swing moves like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-dips-68250/" target="_blank" rel="noopener ">Bitcoin</a> and Ethereum. The price even spiked below the $0.5120 support zone. 
A low was formed at $0.5028 and the price is now correcting losses. There was a move above the $0.5200 and $0.5250 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5477 swing high to the $0.5028 low. 
The price is back above $0.5250 and the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-red-again-0-525/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. Immediate resistance is near the $0.5320 level. There is also a key bearish trend line forming with resistance at $0.5325 on the hourly chart of the XRP/USD pair. 
The first key resistance is near $0.5365 or the 76.4% Fib retracement level of the downward move from the $0.5477 swing high to the $0.5028 low. A close above the $0.5365 resistance zone could send the price higher. <a href="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-609589 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/05/XRP_Price_d36ec1.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next key resistance is near $0.5480. If the bulls push the price above the $0.5480 resistance level, there could be a steady increase toward the $0.5570 resistance. Any more gains might send the price toward the $0.5800 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.5320 resistance zone, it could start another decline within the range. Initial support on the downside is near the $0.5250 level and the 100 hourly SMA. 
The next major support is at $0.5140. If there is a downside break and a close below the $0.5140 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.5030 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.5250 and $0.5140. 
Major Resistance Levels – $0.5320 and $0.5365.

XRP Price Consolidates, Gearing Up for Its Next Major Breakout

目錄

NewsBTC

在 2024年5月24日發表的其他文章

Pepe Price Prediction: Pepe Soars To A New All-Time High, But Investors Are Rushing To Buy This D...

XRP Declares War On Uncertainty: Analyst Predicts Breakout Fueled By Regulation

FLOW And ETH Are Making a Comeback, But It Is This Meme Coin Presale That Has Everyone Buzzing!

FDIC Chairman Martin Gruenberg to Resign Amid Toxic Workplace Investigation

Bitcoin Faces Key Resistance: Analysts Predict Major Breakout Potential

Ethereum ETF Warning from Analysts: 'Expected Demand from Institutions May Not Come!' Here are th...

訂閱免費電子報，每天收取加密貨幣最新動態！