{"id":3371,"date":"2024-09-04T04:28:38","date_gmt":"2024-09-04T04:28:38","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3371"},"modified":"2024-09-04T04:28:38","modified_gmt":"2024-09-04T04:28:38","slug":"xrp-price-shows-resilience-is-a-bold-move-around-the-corner","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3371","title":{"rendered":"XRP Price Shows Resilience: Is a Bold Move Around the Corner?"},"content":{"rendered":"

XRP price extended losses and dived toward the $0.5320 support. The price remained well-bid and is currently attempting a fresh recovery above $0.550.<\/em><\/p>\n

XRP price started a decent increase from the $0.5330 zone.
\nThe price is now trading below $0.560 and the 100-hourly Simple Moving Average.
\nThere is a new connecting bearish trend line forming with resistance at $0.5570 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could climb higher toward the $0.600 zone if it clears the $0.5620 resistance zone.<\/p>\n

XRP Price Attempts Recovery<\/h2>\n

XRP price extended losses like Bitcoin<\/a> and Ethereum<\/a>. The price even dived below the $0.5440 support level. It tested the $0.5330 zone. A low was formed at $0.5333 and the price is now attempting a fresh recovery wave.<\/p>\n

There was a move above the $0.5420 and $0.5440 resistance levels. The price was able to clear the 23.6% Fib retracement level of the downward move from the $0.5719 swing high to the $0.5333 low. It is also attempting a close above $0.5520.<\/p>\n

The price is now trading well below $0.5750 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5550 level. The first major resistance is near the $0.5570 level. There is also a new connecting bearish trend line forming with resistance at $0.5570 on the hourly chart of the XRP\/USD pair.<\/p>\n

The trend line is close to the 61.8% Fib retracement level of the downward move from the $0.5719 swing high to the $0.5333 low. The next key resistance could be $0.5720. A clear move above the $0.5720 resistance might send the price toward the $0.5850 resistance.<\/p>\n

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

The next major resistance is near the $0.5920 level. Any more gains might send the price toward the $0.600 resistance or even $0.6060 in the near term.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.5570 resistance zone, it could start another decline. Initial support on the downside is near the $0.5480 level. The next major support is at $0.5420.<\/p>\n

If there is a downside break and a close below the $0.5420 level, the price might continue to decline toward the $0.5320 support in the near term. The next major support sits at $0.520.<\/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 $0.5420 and $0.5320.<\/p>\n

Major Resistance Levels \u2013 $0.5570 and $0.5720.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price extended losses and dived toward the $0.5320 support. The price remained well-bid and is currently attempting a fresh recovery above $0.550. XRP price started a decent increase from the $0.5330 zone. The price is now trading below $0.560 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":3372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3371","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\/3371"}],"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=3371"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3372"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}