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XRP ignites a bullish spark, surging past $2.220! But can it conquer the $2.280 peak? A slip below $2.150 could trigger a sharp reversal. Watch closely!
- XRP price started a fresh increase above the $2.20 zone.
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The price is now trading near $2.180 and the 100-hourly Simple Moving Average. XRP struggles to break free! A looming bearish trend line on Kraken’s hourly chart, currently capping gains near $2.2250, hints at further downward pressure. Will bulls muster the strength for a breakout, or will XRP succumb to the bears’ grip?
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The pair could continue to move down if it dips below $2.150.
XRP Price Faces Resistance
XRP ignites a bullish blaze, surging past $2.120 and $2.150, mirroring the upward trajectory of crypto titans Bitcoin and Ethereum. Resistance at $2.20 crumbles as XRP gathers momentum, hinting at a potential breakout.
Bulls charged, briefly piercing the $2.240 barrier and spiking to a $2.286 peak before momentum faltered. The rally then retraced, dipping below the 23.6% Fibonacci level measured from the $1.817 swing low to that $2.286 crest.
XRP flirts with $2.18, shadowed by the 100-hour SMA. A looming bearish trendline threatens at $2.2250 on the hourly chart, painting a precarious picture for the XRP/USD pair.
A surge past the current level could stall near $2.2250, but the real battleground awaits at $2.250. Conquer that, and the path clears for a run toward $2.2850. Breaking through $2.2850 could unleash a powerful rally toward $2.350, with the bulls eyeing a more ambitious target of $2.4320. The ultimate test for buyers? Shattering the $2.50 ceiling.
Downside Continuation?
XRP’s bullish momentum is stalling, trapped below the $2.250 barricade. A breach is needed to avoid a potential nosedive. Watch for the $2.150 safety net; failure to hold could trigger a steeper fall towards the critical $2.10 floor.
A fall below $2.10 could uncork a slide toward $2.05, testing the 50% Fibonacci retracement from the recent surge ($1.817 to $2.286). Brace for a key showdown near $2.00 – lose that ground, and we could see a deeper plunge toward $1.925.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.150 and $2.050.
Major Resistance Levels – $2.250 and $2.280.
Thanks for reading XRP Bulls Lose Grip as Signals Point Toward Another Decline
