{"id":11938,"date":"2024-10-07T04:18:30","date_gmt":"2024-10-07T04:18:30","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11938"},"modified":"2024-10-07T04:18:30","modified_gmt":"2024-10-07T04:18:30","slug":"xrp-price-eyes-breakout-will-it-recover-lost-ground","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11938","title":{"rendered":"XRP Price Eyes Breakout: Will It Recover Lost Ground?"},"content":{"rendered":"

XRP price is consolidating above the $0.5080 support level. The price could gain pace if it clears the $0.5450 resistance zone in the near term.<\/em><\/p>\n

XRP price is still consolidating above the $0.5080 support.
\nThe price is now trading above $0.5250 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $0.5450 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could gain bullish pace if it clears the $0.5450 and $0.5500 resistance levels.<\/p>\n

XRP Price Eyes Recovery<\/h2>\n

XRP price extended its decline below the $0.5350 level, underperforming Bitcoin<\/a> and Ethereum<\/a>. The price even declined heavily below the $0.5250 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 $0.5250 level. Recently, the price tested 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 $0.5250 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5450 level. There is also a key bearish trend line forming with resistance at $0.5450 on the hourly chart of the XRP\/USD pair.<\/p>\n

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

The first major resistance is near the $0.5500 level. The next key resistance could be $0.5650. A clear move above the $0.5650 resistance might send the price toward the $0.580 resistance. Any more gains might send the price toward the $0.6000 resistance or even $0.6050 in the near term.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.5450 resistance zone, it could start another decline. Initial support on the downside is near the $0.5300 level. The next major support is near the $0.5250 level.<\/p>\n

If there is a downside break and a close below the $0.5250 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5080 zone.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.5250 and $0.5120.<\/p>\n

Major Resistance Levels \u2013 $0.5450 and $0.5500.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price is consolidating above the $0.5080 support level. The price could gain pace if it clears the $0.5450 resistance zone in the near term. XRP price is still consolidating above the $0.5080 support. The price is now trading above $0.5250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":11939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11938","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\/11938"}],"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=11938"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11939"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}