8 hour ago
1 0
BEARISH 📉 : XRP struggles below $1.50, risks further decline
XRP Price Analysis:
- XRP has dropped below $1.5250 and is now trading under $1.50, along with the 100-hourly Simple Moving Average.
- A key bearish trend line is forming with resistance at $1.5850 on the XRP/USD hourly chart.
- The price faces significant resistance at $1.5320 and $1.550.
Current Situation:
- The price is consolidating between $1.4330 and $1.50 after hitting a low of $1.4330.
- A potential recovery could face resistance first at $1.480, then at $1.5320, aligning with the 50% Fib retracement level from the recent high to the low.
- An upward move above $1.60 may target $1.620 and potentially $1.650.
Potential Decline:
- If unable to break past $1.5320, XRP may drop further.
- Initial support levels are at $1.4320 and $1.4250. A breach below these could lead to a fall towards $1.412.
Technical Indicators:
- Hourly MACD: Bearish momentum is increasing.
- Hourly RSI: Currently below the 50 mark, indicating bearish sentiment.
- Support Levels: $1.4320 and $1.4250.
- Resistance Levels: $1.5320 and $1.550.
