XRP Stuck in Neutral — Bulls Can’t Break the Barrier 🧱 The
koinmilyoner
Updated at: 3 hours ago
{"content":"XRP Stuck in Neutral — Bulls Can’t Break the Barrier 🧱
The XRP price began recovering from $2.320. The price is battling to break $2.420 and may go below $2.350.
XRP is trying to return over $2.350.
The price is above $2.350 and the 100-hour SMA.
The hourly XRP/USD chart shows a contracting triangle with resistance at $2.420.
If it breaks $2.420, the pair may rise again.
XRP Tries Recovery
Like Bitcoin and Ethereum, XRP set a base above $2.30 and rose. The price broke $2.3750 and $2.380 barrier.
Bulls broke the 23.6% Fib retracement barrier of the decline from the $2.5320 swing high to the $2.3275 low. At $2.420 and the 100-hourly Simple Moving Average, bears are aggressive.
The price is below $2.420 and the 100-hour SMA. The hourly XRP/USD chart shows a contracting triangle with resistance at $2.420.
A further upward advance may encounter resistance at $2.420. The 50% Fib retracement level of the decline from the $2.5320 swing high to the $2.3275 low is also nearby. Price might increase to $2.550 over the first major hurdle at $2.480.
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. Around $2.380 is first downward support. Near $2.350 is the next important support.
If the price breaks down and closes below $2.350, it may fall to $2.320. Next key support is at $2.250, below which the price might fall to $2.20.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.350, $2.320.
Two major resistance levels: $2.420 and $2.50.
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