{"id":29592,"date":"2024-12-19T04:08:55","date_gmt":"2024-12-19T04:08:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=29592"},"modified":"2024-12-19T04:08:55","modified_gmt":"2024-12-19T04:08:55","slug":"xrp-price-drops-to-crucial-support-can-it-stage-a-turnaround","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=29592","title":{"rendered":"XRP Price Drops to Crucial Support: Can It Stage a Turnaround?"},"content":{"rendered":"

XRP price started a fresh decline below the $2.350 zone. The price retested the $2.20 support zone and is currently attempting a recovery wave.<\/em><\/p>\n

XRP price started a fresh decline from the $2.720 zone.
\nThe price is now trading below $2.50 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair might start another increase if it clears the $2.40 resistance.<\/p>\n

XRP Price Dives To $2.20<\/h2>\n

XRP price failed to start a fresh increase above the $2.50 level and started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $2.45 and $2.40 levels.<\/p>\n

The price declined over 5% and there was a move below the $2.320 support. Finally, the price spiked below the $2.20 support. A low was formed at $2.171 and the price is now correcting losses. There was a move above the $2.250 level.<\/p>\n

The price cleared the 23.6% Fib retracement level of the downward move from the $2.720 swing high to the $2.171 low. The price is now trading below $2.50 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price might face resistance near the $2.40 level. The first major resistance is near the $2.450 level. There is also a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP\/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $2.720 swing high to the $2.171 low.<\/p>\n

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

The next resistance is $2.50. A clear move above the $2.50 resistance might send the price toward the $2.55 resistance. Any more gains might send the price toward the $2.620 resistance or even $2.80 in the near term. The next major hurdle for the bulls might be $3.00.<\/p>\n

Are Dips Supported?<\/h2>\n

If XRP fails to clear the $2.40 resistance zone, it could start another decline. Initial support on the downside is near the $2.25 level. The next major support is near the $2.20 level.<\/p>\n

If there is a downside break and a close below the $2.20 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 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 $2.20 and $2.050.<\/p>\n

Major Resistance Levels \u2013 $2.40 and $2.450.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price started a fresh decline below the $2.350 zone. The price retested the $2.20 support zone and is currently attempting a recovery wave. XRP price started a fresh decline from the $2.720 zone. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":29593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29592","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\/29592"}],"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=29592"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29593"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}