{"id":8985,"date":"2024-09-24T04:18:39","date_gmt":"2024-09-24T04:18:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8985"},"modified":"2024-09-24T04:18:39","modified_gmt":"2024-09-24T04:18:39","slug":"xrp-price-defends-support-will-bulls-take-over","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8985","title":{"rendered":"XRP Price Defends Support: Will Bulls Take Over?"},"content":{"rendered":"

XRP price is consolidating above the $0.5785 support. The price must settle above $0.5920 and $0.600 to start a fresh increase in the near term.<\/em><\/p>\n

XRP price is still trading below the $0.600 resistance zone.
\nThe price is now trading below $0.590 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels.<\/p>\n

XRP Price Holds Key Support<\/h2>\n

XRP price struggled to stay above $0.6050 and started a downside correction like Bitcoin<\/a> and Ethereum<\/a>. The price declined below the $0.600 and $0.590 support levels. However, the bulls remained active near $0.5785, and the price bounced back to test $0.5950.<\/p>\n

It is again moving lower below the $0.5920 level. There was a break below the 50% Fib retracement level of the upward move from the $0.5784 swing low to the $0.5956 high.<\/p>\n

The price is now trading below $0.590 and the 100-hourly Simple Moving Average. It is finding bids near the 76.4% Fib retracement level of the upward move from the $0.5784 swing low to the $0.5956 high at $0.5825. On the upside, the price might face resistance near the $0.5850 level.<\/p>\n

There is also a major bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP\/USD pair. The first major resistance is near the $0.5920 level. The next key resistance could be $0.600.<\/p>\n

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

A clear move above the $0.600 resistance might send the price toward the $0.6120 resistance. Any more gains might send the price toward the $0.6250 resistance or even $0.6320 in the near term.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $0.5920 resistance zone, it could start another decline. Initial support on the downside is near the $0.5825 level. The next major support is near the $0.5780 level.<\/p>\n

If there is a downside break and a close below the $0.5780 level, the price might continue to decline toward the $0.5650 support in the near term. The next major support sits at $0.5550.<\/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 $0.5825 and $0.5780.<\/p>\n

Major Resistance Levels \u2013 $0.5920 and $0.6000.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price is consolidating above the $0.5785 support. The price must settle above $0.5920 and $0.600 to start a fresh increase in the near term. XRP price is still trading below the $0.600 resistance zone. The price is now trading below $0.590 and the 100-hourly Simple Moving Average. There is a major bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":8986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8985","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\/8985"}],"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=8985"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8986"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}