XRP Pulls Back After Rally — Key Support Levels Now Critical
Uboat
Updated at: 7 hours ago
{"content":"XRP Pulls Back After Rally — Key Support Levels Now Critical
XRP price rose over $3.00. Now reversing gains, price may test $2.75 support.
Above $2.850, XRP price rose again.
The price is above $2.80 and the 100-hour SMA.
On the hourly XRP/USD chart, a bullish trend line with support around $2.820 is formed.
If over $2.750, the pair might rise again.
Over 5% Gain for XRP
Like Bitcoin and Ethereum, XRP rose after settling over $2.650. The price broke $2.80 barrier.
Bulls just pushed the price over $3.00. Price is correcting after hitting $3.0324 high. The $2.660 swing low to $3.0324 high upward advance fell below the 50% Fib retracement line.
The price is above $2.80 and the 100-hour SMA. On the hourly XRP/USD chart, a bullish trend line with support around $2.820 is formed.
Price may find resistance at $2.920 on the upside. Near $2.950 is the first big resistance. A clean break over $2.950 might push the market above $3.020. More advances might push the price toward $3.080 or $3.120. At $3.20, bulls may face their next significant challenge.
Additional drawbacks?
XRP may fall again if it fails to break $2.950. The trend line and $2.820 level provide first downward support. Next key support is approaching $2.80, the 76.4% Fib retracement level of the upward run from $2.660 swing low to $3.0324 high.
If the price breaks down and closes below $2.80, it may fall toward $2.750. Near $2.650 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.820, $2.750.
Two major resistance levels: $2.950 and $3.020.
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