Price Upside Rejected: Momentum Shifts to Sellers
Price Upside Rejected: Momentum Shifts to Sellers
XRP price upside rejected, momentum shifts back to sellers as the price fails to clear the $1.40 zone. The price is now consolidating and might aim for another increase if it stays above the $1.350 zone.
XRP Price Analysis
XRP price started a downside correction after it failed to clear the $1.40 zone. The price is now trading above $1.350 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $1.3490 on the hourly chart of the XRP/USD pair.
XRP Price Dips Again
XRP price started a decent upward move above $1.3550 and $1.3650, like Bitcoin and Ethereum. The price gained pace for a clear move above the $1.380 resistance. A high was formed at $1.3964, and the price started a downside correction.
Momentum Shifts to Sellers
If XRP fails to clear the $1.3680 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3550 level. The next major support is near the $1.350 level and the trend line or the 61.8% Fib retracement level of the upward move from the $1.320 swing low to the $1.3964 high.
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 – $1.3500 and $1.3380. Major Resistance Levels – $1.3680 and $1.3780.
Key Takeaways
- XRP price upside rejected, momentum shifts back to sellers
- The price is now consolidating and might aim for another increase if it stays above the $1.350 zone
- If XRP fails to clear the $1.3680 resistance zone, it could start a fresh decline
- Initial support on the downside is near the $1.3550 level
Frequently Asked Questions
What is the current XRP price trend?
The current XRP price trend is bearish, with the price failing to clear the $1.40 zone and starting a downside correction.
What are the major support and resistance levels for XRP?
The major support levels for XRP are $1.3500 and $1.3380, while the major resistance levels are $1.3680 and $1.3780.
