XRP Rally Stalls 🚧 — Caution Rises After Another Disappoint
koinmilyoner
Updated at: 2 hours ago
{"content":"XRP Rally Stalls 🚧 — Caution Rises After Another Disappointing Close
XRP lost ground below $2.350. The price is consolidating and may struggle to remain over $2.150.
After rising beyond $2.420, XRP fell.
The price is below $2.30 and the 100-hour SMA.
XRP/USD broke below a positive trend line with support around $2.360 on the hourly chart.
If below $2.150, the pair may fall.
XRP Falls Again
XRP's rebound began above $2.25 and $2.30, like Bitcoin and Ethereum. Price tried to break $2.40 but failed at $2.42.
Prices dropped after reaching a peak of $2.414. The price fell below $2.33 and $2.32. It traded below the 50% Fib retracement line of the bullish advance from $2.066 swing low to $2.414 high.
Additionally, the hourly XRP/USD chart broke below a positive trend line with support around $2.360. The price is below $2.30 and the 100-hour SMA.
Bulls are reaching $2.20 and the 61.8% Fib retracement level of the $2.066 swing low to $2.414 high. The price may encounter resistance at $2.30 if it rises again. Price might increase to $2.420 over the first significant barrier at $2.350.
A clean break over $2.420 might push the price above $2.50. More increases might push pricing toward $2.550 barrier. The bulls may face a severe test at $2.650.
Another Fall?
XRP may fall if it fails to break $2.30 barrier. The downside has first support at $2.20. Near $2.150 is the next key support.
A downward break and closing below $2.150 might push the stock below $2.050. The price might fall to $1.840 below the next key support at $2.00.
Major Support Levels: $2.20, $2.150.
Two major resistance levels: $2.30 and $2.420.
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