{"id":16071,"date":"2024-10-24T04:08:37","date_gmt":"2024-10-24T04:08:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16071"},"modified":"2024-10-24T04:08:37","modified_gmt":"2024-10-24T04:08:37","slug":"xrp-price-aims-to-recover-can-it-reverse-the-downtrend","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16071","title":{"rendered":"XRP Price Aims to Recover: Can It Reverse the Downtrend?"},"content":{"rendered":"

XRP price extended losses and tested the $0.5120 zone. The price is now rising and might attempt to clear the $0.5320 resistance zone.<\/em><\/p>\n

XRP price is correcting losses from the $0.5120 zone.
\nThe price is now trading below $0.5400 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if it clears the $0.5350 resistance zone.<\/p>\n

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

XRP price failed to start a fresh increase and extended losses below $0.5320, like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $0.530 and $0.5250 levels.<\/p>\n

The price even dipped below $0.5200 and tested $0.5120. A low was at $0.5117 and the price is now correcting losses. There was a move above the 23.6% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5117 low.<\/p>\n

There was a break above a connecting bearish trend line with resistance at $0.5280 on the hourly chart of the XRP\/USD pair. The price is now trading below $0.5400 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price might face resistance near the $0.5350 level or the 50% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5117 low. The first major resistance is near the $0.5400 level.<\/p>\n

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

The next key resistance could be $0.5420. A clear move above the $0.5420 resistance might send the price toward the $0.5485 resistance. Any more gains might send the price toward the $0.5550 resistance or even $0.5650 in the near term. The next major hurdle might be $0.5800.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5230 level. The next major support is near the $0.5200 level.<\/p>\n

If there is a downside break and a close below the $0.5200 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits near the $0.5050 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 $0.5230 and $0.5200.<\/p>\n

Major Resistance Levels \u2013 $0.5350 and $0.5420.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price extended losses and tested the $0.5120 zone. The price is now rising and might attempt to clear the $0.5320 resistance zone. XRP price is correcting losses from the $0.5120 zone. The price is now trading below $0.5400 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":16072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16071","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\/16071"}],"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=16071"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16072"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}