XRP Price Recovery Stalls – Traders Watching If Bulls Can Overcome Resistance
Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
XRP price attempted a recovery wave above the $2.850 zone. The price is now struggling to clear $3.00 and might decline again below the $2.80 zone.
- XRP price is moving lower below the $2.920 support zone.
- The price is now trading near $2.90 and the 100-hourly Simple Moving Average.
- There is a connecting bullish trend line forming with support at $2.850 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could continue to move down if it dips below $2.850.
XRP Price Faces Hurdles
XRP price found support near $2.680 and recently started a recovery wave, beating Bitcoin and Ethereum . The price was able to surpass the $2.80 and $2.85 resistance levels.
The bulls pushed the price above the 50% Fib retracement level of the main decline from the $3.138 swing high to the $2.678 low. However, the bears are active near the $3.00 resistance. The price faced rejection near $3.00 and reacted to the downside.
The price is now trading near $2.90 and the 100-hourly Simple Moving Average. Besides, there is a connecting bullish trend line forming with support at $2.850 on the hourly chart of the XRP/USD pair.
Source: XRPUSD on TradingView.comOn the upside, the price might face resistance near the $2.95 level. The first major resistance is near the $2.9620 level and the 61.8% Fib retracement level of the main decline from the $3.138 swing high to the $2.678 low. A clear move above the $2.9620 resistance might send the price toward the $3.00 resistance. Any more gains might send the price toward the $3.050 resistance. The next major hurdle for the bulls might be near $3.120.
Another Decline?
If XRP fails to clear the $2.9620 resistance zone, it could continue to move down. Initial support on the downside is near the $2.880 level. The next major support is near the $2.850 level and the trend line.
If there is a downside break and a close below the $2.850 level, the price might continue to decline toward $2.780. The next major support sits near the $2.70 zone, below which the price could gain bearish momentum.
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 – $2.880 and $2.850.
Major Resistance Levels – $2.9620 and $3.00.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto ETFs Bleed $1.69B in Weekly Outflows
US spot Bitcoin and Ethereum ETFs saw $1.69B in combined outflows this week.Bearish Sentiment Drives Massive ETF OutflowsBitcoin ETFs Lose Nearly $900MEthereum ETF Outflows Add to the Pressure

Google Backs $4.6B Bitcoin Mining Expansion
Google supports $4.6B in funding for TeraWulf and Cipher Mining to scale Bitcoin data centers.Google Deepens Bet on Bitcoin Mining with Major InvestmentsTeraWulf Secures $3B with Google and Morgan StanleyCipher Mining Partners with Google and Fluidstack

Bitcoin Dominance Drops: Altcoins Gain Momentum
Bitcoin dominance is falling, signaling a potential bullish trend for Ethereum and other altcoins.Bitcoin Dominance Sees DeclineWhy This Is Bullish for Ethereum and AltcoinsWhat This Could Mean for the Market

Solana Falls Below $200 Amid ETF Ruling Concerns
Solana dips under $200 as investors await a key ETF decision that could impact market direction.What an ETF Approval Could Mean for SolanaLooking Ahead: Volatility Expected

Trending news
MoreCrypto prices
More








