{"id":31423,"date":"2024-12-27T04:08:44","date_gmt":"2024-12-27T04:08:44","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31423"},"modified":"2024-12-27T04:08:44","modified_gmt":"2024-12-27T04:08:44","slug":"xrp-price-takes-a-5-hit-is-more-downside-ahead","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31423","title":{"rendered":"XRP Price Takes a 5% Hit: Is More Downside Ahead?"},"content":{"rendered":"

XRP price failed to continue higher above $2.35 and declined. The price is down over 5% and is showing bearish signs below the $2.20 level.<\/em><\/p>\n

XRP price started another decline below the $2.250 support level.
\nThe price is now trading below $2.25 and the 100-hourly Simple Moving Average.
\nThere was a break below a key declining channel with support at $2.235 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair might start a fresh increase if it stays above the $2.120 support.<\/p>\n

XRP Price Dips Again<\/h2>\n

XRP price failed to clear the $2.35 resistance and started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. There was a sharp move below the $2.30 and $2.50 support levels.<\/p>\n

Besides, there was a break below a key declining channel with support at $2.235 on the hourly chart of the XRP\/USD pair. The pair declined over 5% and even tested the $2.120 zone. A low was formed at $2.126 and the price is now consolidating losses.<\/p>\n

It corrected some losses and climbed above $2.15. It tested the 23.6% Fib retracement level of the recent decline from the $2.348 swing high to the $2.126 low. The price is now trading below $2.25 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price might face resistance near the $2.18 level. The first major resistance is near the $2.20 level. The next resistance is $2.24 or the 50% Fib retracement level of the recent decline from the $2.348 swing high to the $2.126 low. A clear move above the $2.24 resistance might send the price toward the $2.30 resistance.<\/p>\n

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

Any more gains might send the price toward the $2.320 resistance or even $2.350 in the near term. The next major hurdle for the bulls might be $2.450.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $2.24 resistance zone, it could start another decline. Initial support on the downside is near the $2.12 level. The next major support is near the $2.10 level.<\/p>\n

If there is a downside break and a close below the $2.10 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 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 $2.120 and $2.100.<\/p>\n

Major Resistance Levels \u2013 $2.180 and $2.240.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price failed to continue higher above $2.35 and declined. The price is down over 5% and is showing bearish signs below the $2.20 level. XRP price started another decline below the $2.250 support level. The price is now trading below $2.25 and the 100-hourly Simple Moving Average. There was a break below a key […]<\/p>\n","protected":false},"author":0,"featured_media":31424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31423","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\/31423"}],"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=31423"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31424"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}