📉 XRP Drops Back — Can It Hold the Line or Is a Breakdown I
koinmilyoner
Updated at: 6 hours ago
{"content":"📉 XRP Drops Back — Can It Hold the Line or Is a Breakdown Imminent?
Below the $2.950 barrier zone, XRP is falling. Price is battling to rebound and may go below $2.820.
XRP is falling below $2.950 and $2.920.
The price is below $2.920 and the 100-hour SMA.
On the hourly XRP/USD chart, a negative trend line with resistance at $2.910 is formed.
If below $3.00, the pair may continue to fall.
Risky XRP Price
XRP, like Bitcoin and Ethereum, stayed negative after closing below $3.00. Losses continued below $2.920.
The price fell below $2.850. The $2.820 support zone was tested last. Price just tried a rebound wave from $2.820's low. Price rose over $2.90. Prices rose beyond the 50% Fib retracement level of the $3.095 swing high to $2.820 low decline.
However, bears are aggressive at $3.00 and the 61.8% Fib retracement level of the $3.095 swing high to $2.820 low decline.
The price is below $2.920 and the 100-hour SMA. Price may find resistance at $2.90 on the upside. The hourly XRP/USD chart shows a negative trend line with resistance at $2.910.
Near $2.950 is the first big resistance. A clean break over $2.950 might push the market above $3.00. More advances might push pricing toward $3.120 barrier. The bulls may face a severe test at $3.20.
More Losses?
XRP might fall again if it fails to break $2.90 barrier. The downside has first support at $2.820. Near $2.80 is the next important support.
If the price breaks down and closes below $2.80, it may fall toward $2.7650. The price may go below $2.750, the next key support.
Tech Indicators
The hourly MACD for XRP/USD is moving bearishly.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.820, $2.7650.
Two major resistance levels: $2.90 and $2.950.
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