{"id":4735,"date":"2024-09-09T04:08:19","date_gmt":"2024-09-09T04:08:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=4735"},"modified":"2024-09-09T04:08:19","modified_gmt":"2024-09-09T04:08:19","slug":"xrp-price-holds-ground-at-0-50-can-bulls-push-for-a-comeback","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=4735","title":{"rendered":"XRP Price Holds Ground at $0.50: Can Bulls Push for a Comeback?"},"content":{"rendered":"

XRP price managed to stay above the $0.5000 level. The price is rebounding and must clear the $0.5480 resistance level to start a decent increase.<\/em><\/p>\n

XRP price is struggling to gain pace for a move above the $0.5350 zone.
\nThe price is now trading below $0.5320 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance at $0.5280 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could decline again if it fails to clear $0.5320 and $0.5480.<\/p>\n

XRP Price Faces Resistance<\/h2>\n

XRP price extended losses below $0.5350 like Bitcoin<\/a> and Ethereum<\/a>. There was a fresh decline, and the price retested the $0.5020 support zone. A low was formed at $0.5021 and the price is now attempting a recovery wave.<\/p>\n

There was a minor increase above the $0.520 level. The price surpassed the 23.6% Fib retracement level of the downward move from the $0.5626 swing high to the $0.5021 low. There was a break above a key bearish trend line with resistance at $0.5280 on the hourly chart of the XRP\/USD pair.<\/p>\n

However, the bears seem to be active near the $0.5320 and $0.5350 levels. The price is now trading below $0.5350 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5320 level.<\/p>\n

The first major resistance is near the $0.5480 level or the 76.4% Fib retracement level of the downward move from the $0.5626 swing high to the $0.5021 low. The next key resistance could be $0.5550. A clear move above the $0.5550 resistance might send the price toward the $0.5620 resistance.<\/p>\n

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

The next major resistance is near the $0.5750 level. Any more gains might send the price toward the $0.5880 resistance or even $0.600 in the near term.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.5320 resistance zone, it could start another decline. Initial support on the downside is near the $0.5220 level. The next major support is $0.5200.<\/p>\n

If there is a downside break and a close below the $0.5200 level, the price might continue to decline toward the $0.5120 support in the near term. The next major support sits at $0.5020.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.5200 and $0.5120.<\/p>\n

Major Resistance Levels \u2013 $0.5320 and $0.5480.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price managed to stay above the $0.5000 level. The price is rebounding and must clear the $0.5480 resistance level to start a decent increase. XRP price is struggling to gain pace for a move above the $0.5350 zone. The price is now trading below $0.5320 and the 100-hourly Simple Moving Average. There was a […]<\/p>\n","protected":false},"author":0,"featured_media":4736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4735","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\/4735"}],"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=4735"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/4735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/4736"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}