{"id":9514,"date":"2024-09-26T04:28:58","date_gmt":"2024-09-26T04:28:58","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9514"},"modified":"2024-09-26T04:28:58","modified_gmt":"2024-09-26T04:28:58","slug":"xrp-price-upside-fades-is-a-reversal-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9514","title":{"rendered":"XRP Price Upside Fades: Is a Reversal on the Horizon?"},"content":{"rendered":"

XRP price failed to climb above the $0.6050 resistance and declined. The price is now testing the $0.5765 support and might consolidate for some time.<\/em><\/p>\n

XRP price is still struggling to clear the $0.600 resistance zone.
\nThe price is now trading below $0.590 and the 100-hourly Simple Moving Average.
\nThere is a key 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 start a fresh increase if it clears the $0.5850 and $0.5880 resistance levels.<\/p>\n

XRP Price Dips Again<\/h2>\n

XRP price struggled to gain pace for a move above the $0.600 resistance zone. The price started a downside correction and traded below the $0.5880 support like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a drop below the $0.580 level and the price tested $0.5750. A low was formed at $0.5744 and the price is now attempting a recovery wave. There was a move above the $0.5780 and $0.580 levels. The price cleared the 23.6% Fib retracement level of the downward move from the $0.5953 swing high to the $0.5744 low.<\/p>\n

The price is now trading below $0.590 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5850 level. There is also a key bearish trend line forming with resistance at $0.5850 on the hourly chart of the XRP\/USD pair.<\/p>\n

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

The first major resistance is near the $0.5880 level or the 61.8% Fib retracement level of the downward move from the $0.5953 swing high to the $0.5744 low. The next key resistance could be $0.5920. A clear move above the $0.5920 resistance might send the price toward the $0.5950 resistance. Any more gains might send the price toward the $0.600 resistance or even $0.6050 in the near term.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $0.5850 resistance zone, it could start another decline. Initial support on the downside is near the $0.5765 level. The next major support is near the $0.5750 level.<\/p>\n

If there is a downside break and a close below the $0.5750 level, the price might continue to decline toward the $0.5640 support in the near term. The next major support sits at $0.5500.<\/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 $0.5765 and $0.5750.<\/p>\n

Major Resistance Levels \u2013 $0.5850 and $0.5880.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price failed to climb above the $0.6050 resistance and declined. The price is now testing the $0.5765 support and might consolidate for some time. XRP price is still struggling to clear the $0.600 resistance zone. The price is now trading below $0.590 and the 100-hourly Simple Moving Average. There is a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":9515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9514","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\/9514"}],"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=9514"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9515"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}