{"id":38594,"date":"2025-01-24T04:08:43","date_gmt":"2025-01-24T04:08:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38594"},"modified":"2025-01-24T04:08:43","modified_gmt":"2025-01-24T04:08:43","slug":"xrp-price-dips-back-to-support-consolidation-or-breakdown-ahead","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38594","title":{"rendered":"XRP Price Dips Back to Support: Consolidation or Breakdown Ahead?"},"content":{"rendered":"

XRP price struggled to continue higher above the $3.25 level. The price is now correcting gains and might find bids near the $3.00 level.<\/em><\/p>\n

XRP price started a downside correction from the $3.250 zone.
\nThe price is now trading below $3.150 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $3.10 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 $3.00 support.<\/p>\n

XRP Price Dips To Support<\/h2>\n

XRP price managed to start a fresh increase from the $3.050 support zone, but upsides were limited compared to Bitcoin<\/a>. The price was able to surpass the $3.150 level before the bears appeared.<\/p>\n

A high was formed at $3.25 and the price corrected all gains. A low was formed at $3.035 and the price is now consolidating below the 23.6% Fib retracement level of the downward move from the $3.285 swing high to the $3.035 low.<\/p>\n

The price is now trading below $3.15 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price might face resistance near the $3.10 level. There is also a connecting bearish trend line forming with resistance at $3.10 on the hourly chart of the XRP\/USD pair.<\/p>\n

The first major resistance is near the $3.160 level or the 50% Fib retracement level of the downward move from the $3.285 swing high to the $3.035 low. The next resistance is $3.20.<\/p>\n

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

A clear move above the $3.20 resistance might send the price toward the $3.250 resistance. Any more gains might send the price toward the $3.350 resistance or even $3.3650 in the near term. The next major hurdle for the bulls might be $3.450.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $3.10 resistance zone, it could start another decline. Initial support on the downside is near the $3.050 level. The next major support is near the $3.00 level.<\/p>\n

If there is a downside break and a close below the $3.00 level, the price might continue to decline toward the $2.880 support. The next major support sits near the $2.750 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 $3.050 and $3.00.<\/p>\n

Major Resistance Levels \u2013 $3.10 and $3.20.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price struggled to continue higher above the $3.25 level. The price is now correcting gains and might find bids near the $3.00 level. XRP price started a downside correction from the $3.250 zone. The price is now trading below $3.150 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":38595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38594","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\/38594"}],"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=38594"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38595"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}