{"id":11168,"date":"2024-10-03T04:08:47","date_gmt":"2024-10-03T04:08:47","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11168"},"modified":"2024-10-03T04:08:47","modified_gmt":"2024-10-03T04:08:47","slug":"xrp-price-turns-red-can-bulls-stop-the-slide","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11168","title":{"rendered":"XRP Price Turns Red: Can Bulls Stop the Slide?"},"content":{"rendered":"

XRP price extended losses and tested the $0.5240 support level. The price is now consolidating and might struggle to start a fresh increase.<\/em><\/p>\n

XRP price declined further below the $0.5850 zone.
\nThe price is now trading below $0.580 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $0.5950 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could struggle to recover above the $0.5950 and $0.600 resistance levels.<\/p>\n

XRP Price Dips 5%<\/h2>\n

XRP price extended its decline below the $0.600 level, underperforming Bitcoin<\/a> and Ethereum<\/a>. The price even declined heavily below the $0.5550 support zone.<\/p>\n

A low was formed at $0.5231 and the price is now consolidating losses. There was a minor move above the $0.5350 level. The price is still well below the 23.6% Fib retracement level of the downward move from the $0.6642 swing high to the $0.5231 low.<\/p>\n

The price is now trading above $0.5550 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5565 level. The first major resistance is near the $0.5950 level.<\/p>\n

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

There is also a key bearish trend line forming with resistance at $0.5950 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 $0.5231 low. The next key resistance could be $0.600. A clear move above the $0.600 resistance might send the price toward the $0.6120 resistance. Any more gains might send the price toward the $0.6250 resistance or even $0.6320 in the near term.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $0.5565 resistance zone, it could continue to move down. Initial support on the downside is near the $0.530 level. The next major support is near the $0.5240 level.<\/p>\n

If there is a downside break and a close below the $0.5240 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 pivot zone.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for XRP\/USD is now gaining 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 $0.5240 and $0.5050.<\/p>\n

Major Resistance Levels \u2013 $0.5565 and $0.5950.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price extended losses and tested the $0.5240 support level. The price is now consolidating and might struggle to start a fresh increase. XRP price declined further below the $0.5850 zone. The price is now trading below $0.580 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":11169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11168","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\/11168"}],"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=11168"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11169"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}