Important Update on XRP Price Movement!
Get the latest update on the XRP price movement below $0.500 and the implications for the future. Stay informed and make educated decisions about your investments in XRP.
XRP Price Breaks Support
XRP price recently tried to break above $0.4920, similar to Ethereum and Bitcoin, but faced resistance near $0.5050. The price has now dipped below $0.4950 and is currently trading below the 100-hourly Simple Moving Average.
- A new high was established at $0.5053 before the price started declining.
- The price breached the $0.4950 support level and is currently hovering just above the 50% Fib retracement level.
- A bullish trend line with support at $0.4950 was also broken, indicating a bearish signal for XRP price.
Despite attempts to break the $0.500 resistance zone, the price is still struggling and facing resistance near $0.4920. The next key resistance levels are at $0.4950 and $0.500.
More Losses?
If XRP fails to surpass the $0.4950 resistance, it could face further downward pressure. The initial support is near $0.480, followed by a major support level at $0.4740. A close below $0.4740 could trigger a significant decline towards $0.4550.
Technical Indicators
- The MACD for XRP/USD is indicating bearish momentum.
- The RSI for XRP/USD is currently below the 50 level, reflecting a negative sentiment among traders.
Look out for major support levels at $0.4800 and $0.4740, while key resistance levels are at $0.4950 and $0.5050.
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