{"id":11434,"date":"2024-10-04T04:08:45","date_gmt":"2024-10-04T04:08:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11434"},"modified":"2024-10-04T04:08:45","modified_gmt":"2024-10-04T04:08:45","slug":"xrp-price-stabilizes-after-losses-can-bulls-regain-momentum","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11434","title":{"rendered":"XRP Price Stabilizes After Losses: Can Bulls Regain Momentum?"},"content":{"rendered":"

XRP price extended losses and tested the $0.5080 support level. The price is now consolidating and might aim for a recovery toward the $0.580 resistance.<\/em><\/p>\n

XRP price declined further below the $0.5250 zone.
\nThe price is now trading below $0.5450 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could struggle to recover above the $0.5650 and $0.5800 resistance levels.<\/p>\n

XRP Price Extends Losses<\/h2>\n

XRP price extended its decline below the $0.580 level, underperforming Bitcoin<\/a> and Ethereum<\/a>. The price even declined heavily below the $0.5450 support zone.<\/p>\n

A low was formed at $0.5070 and the price is now consolidating losses. There was a minor move above the $0.5150 level. The price is still well below the 23.6% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.<\/p>\n

The price is now trading above $0.5450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5440 level. The first major resistance is near the $0.5550 level.<\/p>\n

The next key resistance could be $0.5800. There is also a key bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP\/USD pair. The trend line is close to the 50% Fib retracement level of the downward wave from the $0.6640 swing high to the $0.5070 low.<\/p>\n

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

A clear move above the $0.5850 resistance might send the price toward the $0.600 resistance. Any more gains might send the price toward the $0.6120 resistance or even $0.6250 in the near term.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.5440 resistance zone, it could start another decline. Initial support on the downside is near the $0.5150 level. The next major support is near the $0.5080 level.<\/p>\n

If there is a downside break and a close below the $0.5080 level, the price might continue to decline toward the $0.4920 support in the near term. The next major support sits near the $0.4850 zone.<\/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 $0.5150 and $0.5080.<\/p>\n

Major Resistance Levels \u2013 $0.5440 and $0.5850.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price extended losses and tested the $0.5080 support level. The price is now consolidating and might aim for a recovery toward the $0.580 resistance. XRP price declined further below the $0.5250 zone. The price is now trading below $0.5450 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":11435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11434","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\/11434"}],"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=11434"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11435"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}