{"id":3728,"date":"2024-09-05T04:58:55","date_gmt":"2024-09-05T04:58:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3728"},"modified":"2024-09-05T04:58:55","modified_gmt":"2024-09-05T04:58:55","slug":"xrp-price-locked-in-range-bound-trading-can-it-escape-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3728","title":{"rendered":"XRP Price Locked in Range-Bound Trading: Can It Escape Soon?"},"content":{"rendered":"

XRP price is attempting a recovery wave above the $0.5500 level. The price might struggle to clear the range resistance at $0.5720 and $0.5800.<\/em><\/p>\n

XRP price started a decent increase from the $0.5330 zone.
\nThe price is now trading below $0.5650 and the 100-hourly Simple Moving Average.
\nThere is a key bullish trend line forming with support at $0.5520 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could decline again if it fails to stay above $0.5520 and $0.5500.<\/p>\n

XRP Price Faces Hurdles<\/h2>\n

XRP price extended losses below $0.540 like Bitcoin<\/a> and Ethereum<\/a>. The price tested the $0.5330 zone and recently started a recovery wave. There was a move above the $0.5420 and $0.5440 resistance levels.<\/p>\n

The price was able to clear the 50% Fib retracement level of the downward move from the $0.5720 swing high to the $0.5333 low. There was a move above the $0.5550 level. However, the bears seem to be active near the $0.5625 and $0.5640 levels.<\/p>\n

The price is now trading below $0.5650 and the 100-hourly Simple Moving Average. Besides, there is also a key bullish trend line forming with support at $0.5520 on the hourly chart of the XRP\/USD pair.<\/p>\n

On the upside, the price might face resistance near the $0.5625 level or the 76.4% Fib retracement level of the downward move from the $0.5720 swing high to the $0.5333 low. The first major resistance is near the $0.5650 level.<\/p>\n

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

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. The next major resistance is near the $0.5880 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 $0.5625 resistance zone, it could start another decline. Initial support on the downside is near the $0.5525 level and the trend line. The next major support is $0.5500.<\/p>\n

If there is a downside break and a close below the $0.5550 level, the price might continue to decline toward the $0.540 support in the near term. The next major support sits at $0.5320.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bullish 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 $0.5525 and $0.5400.<\/p>\n

Major Resistance Levels \u2013 $0.5625 and $0.5720.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price is attempting a recovery wave above the $0.5500 level. The price might struggle to clear the range resistance at $0.5720 and $0.5800. XRP price started a decent increase from the $0.5330 zone. The price is now trading below $0.5650 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":3729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3728","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\/3728"}],"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=3728"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3729"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}