Bulls Still in Game as XRP Price Pulls Back but Holds Suppor
CryptoPotato
Updated at: 6 hours ago
{"content":"Bulls Still in Game as XRP Price Pulls Back but Holds Support
XRP rose beyond $2.60. The price is retracing gains from $2.65 and may find buyers at $2.480.
Above $2.550, XRP price rose again.
The price is above $2.50 and the 100-hour SMA.
XRP/USD broke below a crucial bullish trend line with support around $2.550 on the hourly chart.
If it remains over $2.480, the pair may rise again.
Price Corrects Gains on XRP
XRP pricing launched a new uptrend like Bitcoin and Ethereum over $2.420. The price broke $2.50 and $2.550.
Bulls broke $2.60 resistance. Last, it tested $2.650. Before a retreat, $2.650 was a high. The price fell below $2.550, the 50% Fib retracement level of the $2.4220 swing low to $2.650 high.
Additionally, the hourly XRP/USD chart broke below a crucial bullish trend line with support around $2.550. The price is above $2.50 and the 100-hour SMA.
Price may find resistance at $2.550 on the upside. Near $2.580 is the first big resistance. The next hurdle is $2.60. A clean break over $2.60 might push the price above $2.650. More advances might push the price toward $2.720 or $2.750. The bulls may face $2.880 next.
More Losses?
XRP may fall again if it fails to break $2.580. Initial downside support is approaching $2.510 and the 61.8% Fib retracement level of the bullish run from $2.4220 swing low to $2.650 high. Near $2.480 is the next important support.
If the price breaks down and closes below $2.480, it may fall toward $2.450. Near $2.420 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.510, $2.480.
Two major resistance levels: $2.60 and $2.650.
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