{"id":9818,"date":"2024-09-27T04:28:01","date_gmt":"2024-09-27T04:28:01","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=9818"},"modified":"2024-09-27T04:28:01","modified_gmt":"2024-09-27T04:28:01","slug":"xrp-price-trapped-in-consolidation-will-bulls-break-free","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=9818","title":{"rendered":"XRP Price Trapped In Consolidation: Will Bulls Break Free?"},"content":{"rendered":"

XRP price again struggled to clear the $0.600 resistance and declined. The price is now testing the $0.5840 support and might continue to consolidate.<\/em><\/p>\n

XRP price is still struggling to clear the $0.600 resistance zone.
\nThe price is now trading below $0.5920 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $0.5880 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if it clears the $0.5920 and $0.600 resistance levels.<\/p>\n

XRP Price Stuck Below $0.60<\/h2>\n

XRP price attempted another increase (like Bitcoin<\/a> and Ethereum<\/a>) above the $0.5850 and $0.5880 resistance levels. It even spiked above $0.5920, but the bears were active near the $0.5960 level.<\/p>\n

A high was formed at $0.5961 and the price started a downside correction. There was a move below the $0.5920 and $0.5880 levels. The price dipped below the 50% Fib retracement level of the upward move from the $0.5744 swing low to the $0.5961 high.<\/p>\n

The price is now trading below $0.5920 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5880 level. There is also a connecting bearish trend line forming with resistance at $0.5880 on the hourly chart of the XRP\/USD pair.<\/p>\n

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

The first major resistance is near the $0.5920 level. The next key resistance could be $0.5960. A clear move above the $0.5960 resistance might send the price toward the $0.600 resistance. Any more gains might send the price toward the $0.6050 resistance or even $0.6120 in the near term.<\/p>\n

More Losses?<\/h2>\n

If XRP fails to clear the $0.5880 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5820 level. The next major support is near the $0.5800 level and the 76.4% Fib retracement level of the upward move from the $0.5744 swing low to the $0.5961 high.<\/p>\n

If there is a downside break and a close below the $0.5800 level, the price might continue to decline toward the $0.5740 support in the near term. The next major support sits at $0.5650.<\/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 $0.5800 and $0.5740.<\/p>\n

Major Resistance Levels \u2013 $0.5880 and $0.5960.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price again struggled to clear the $0.600 resistance and declined. The price is now testing the $0.5840 support and might continue to consolidate. XRP price is still struggling to clear the $0.600 resistance zone. The price is now trading below $0.5920 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":9819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9818","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\/9818"}],"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=9818"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/9818\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/9819"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}