🔥 XRP Poised for Breakout — Can Bulls Finally Snap the Shac
koinmilyoner
Updated at: 6 hours ago
{"content":"🔥 XRP Poised for Breakout — Can Bulls Finally Snap the Shackles?
XRP is trying to rebound from $2.70. The price is rising and may accelerate if it breaks $2.850.
XRP is trying to break $2.750.
The price is below $2.850 and the 100-hour SMA.
The hourly XRP/USD chart shows a negative trend line with resistance at $2.820.
The pair may fall if it remains below $2.850.
Price of XRP Sees Recovery
As Bitcoin and Ethereum fell below $2.880, XRP did too. Prices fell below $2.850 and $2.820 to enter a bearish zone.
Bears drove the price below $2.80 and the 100-hourly SMA. Finally, below $2.750, the price tested $2.70. After hitting a low of $2.7018, the price is recovering. The $3.040 swing high to $2.701 low downward move was above the 23.6% Fib retracement line.
The price is below $2.820 and the 100-hour SMA. On the hourly XRP/USD chart, a negative trend line with resistance around $2.820 is formed.
If bulls hold $2.750, price may rise again. Price may find resistance at $2.820 on the upside. Near $2.850 is the first big obstacle. A clean break over $2.850 might push the stock above $2.880.
More advances might push the stock near $2.920 barrier or the 61.8% Fib retracement level of the $3.040 swing high to $2.701 low. Bulls may face another huge roadblock at $2.960.
Another Fall?
XRP may fall if it fails to break $2.850. Around $2.750 is first downward support. Near $2.70 is the next important support.
If the price breaks down and closes below $2.70, it may fall to $2.650. The price may go below $2.60, the next key support.
Tech Indicators
Hourly MACD on XRP/USD is falling in the negative zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.750, $2.70.
Two major resistance levels: $2.750 and $2.920.
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