XRP Under Fire — Can Bulls Protect the Key Support Zone? T
koinmilyoner
Updated at: 4 hours ago
{"content":"XRP Under Fire — Can Bulls Protect the Key Support Zone?
The XRP price began recovering from $2.20. The price is battling to break $2.50 and may go below $2.320.
XRP is down from $2.550.
The price is below $2.420 and the 100-hour SMA.
On the hourly XRP/USD chart, a bullish trend line with support at $2.320 broke.
If it breaks $2.450, the pair may rise again.
Price Resistance for XRP
Like Bitcoin and Ethereum, XRP made a base above $2.250 and began a rebound. The price broke $2.40 and $2.420 barrier.
Bulls pushed price over $2.50. Bears remained aggressive at $2.550. The price just retreated from its $2.5520 peak. It dropped below the 50% Fib retracement line of the $2.190 swing low to $2.5520 peak upward advance.
Additionally, the hourly XRP/USD chart broke below a positive trend line with support at $2.320. The price is below $2.420 and the 100-hour SMA.
A further upward advance may encounter resistance at $2.420. Price might increase to $2.550 over the first significant hurdle at $2.50.
A clean break over $2.550 might push the market above $2.580. More advances might push pricing toward $2.650 barrier. The bulls may face a severe test at $2.720.
Another Drop?
If XRP fails to break $2.420, it might fall again. Initial downside support is approaching $2.320 and the 61.8% Fib retracement level of the bullish advance from $2.190 swing low to $2.5520 high. Near $2.2750 is the next important support.
A downward break and closure below $2.2750 might push the price around $2.220. The price might fall to $2.120 below the next key support at $2.20.
Major Support Levels: $2.320, $2.2750.
Two major resistance levels: $2.420 and $2.50.
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