{"id":10587,"date":"2024-10-01T04:08:37","date_gmt":"2024-10-01T04:08:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=10587"},"modified":"2024-10-01T04:08:37","modified_gmt":"2024-10-01T04:08:37","slug":"xrp-price-eyes-a-restart-will-the-bulls-take-charge-again","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=10587","title":{"rendered":"XRP Price Eyes a Restart: Will the Bulls Take Charge Again?"},"content":{"rendered":"

XRP price started a downside correction below the $0.650 level. The price is now trading near the $0.6120 support and might aim for a fresh increase.<\/em><\/p>\n

XRP price started a pullback from the $0.6650 resistance zone.
\nThe price is now trading below $0.6450 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $0.6350 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if it clears the $0.6320 and $0.6350 resistance levels.<\/p>\n

XRP Price Eyes Fresh Increase<\/h2>\n

XRP price extended its increase above the $0.620 resistance, beating Bitcoin<\/a> and Ethereum<\/a>. The price even cleared the $0.650 level before the bears appeared. A high was formed at $0.6642 and the price started a downside correction.<\/p>\n

There was a move below the $0.6450 and $0.6350 levels. The price tested the $0.6100 zone. A low was formed at $0.6091 and the price is now consolidating losses. There was a minor move above the $0.6200 level.<\/p>\n

The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6642 swing high to the $0.6091 low. The price is now trading above $0.6150 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.6320 level.<\/p>\n

There is also a connecting bearish trend line forming with resistance at $0.6350 on the hourly chart of the XRP\/USD pair. It is close to the 50% Fib retracement level of the downward move from the $0.6642 swing high to the $0.6091 low.<\/p>\n

<\/a><\/p>\n

The first major resistance is near the $0.6420 level. The next key resistance could be $0.6500. A clear move above the $0.6500 resistance might send the price toward the $0.6640 resistance. Any more gains might send the price toward the $0.680 resistance or even $0.700 in the near term.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $0.6350 resistance zone, it could continue to move down. Initial support on the downside is near the $0.6150 level. The next major support is near the $0.6080 level.<\/p>\n

If there is a downside break and a close below the $0.6080 level, the price might continue to decline toward the $0.600 support in the near term. The next major support sits at $0.580.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.6150 and $0.6080.<\/p>\n

Major Resistance Levels \u2013 $0.6320 and $0.6350.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price started a downside correction below the $0.650 level. The price is now trading near the $0.6120 support and might aim for a fresh increase. XRP price started a pullback from the $0.6650 resistance zone. The price is now trading below $0.6450 and the 100-hourly Simple Moving Average. There is a connecting bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":10588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10587"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10587"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/10588"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}