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XRP Price Cracks $1.50 Support, Bears Eye Lower Targets Next

XRP worth prolonged losses and traded beneath $1.50. The worth is now consolidating losses however faces hurdles close to $1.5320 and $1.550.

  • XRP worth began one other decline and traded beneath the $1.5250 zone.
  • The worth is now buying and selling beneath $1.50 and the 100-hourly Simple Moving Average.
  • There is a key bearish development line forming with resistance at $1.5850 on the hourly chart of the XRP/USD pair (information supply from Kraken).
  • The pair might proceed to maneuver down if it stays beneath $1.60.

XRP Price Dips Again

XRP worth failed to remain above $1.5320 and prolonged its decline, like Bitcoin and Ethereum. The worth declined beneath $1.5250 and $1.50 to enter a short-term bearish zone.

The worth even prolonged losses beneath $1.4850. A low was fashioned at $1.4330, and the worth is now consolidating losses with a bearish angle beneath the 23.6% Fib retracement degree of the downward transfer from the $1.6322 swing high to the $1.4330 low however failed.

The worth is now buying and selling beneath $1.50 and the 100-hourly Simple Moving Average. There can be a bearish development line forming with resistance at $1.5850 on the hourly chart of the XRP/USD pair.

If there’s a recent restoration transfer, the worth would possibly face resistance close to the $1.480 degree. The first main resistance is close to the $1.5320 degree or the 50% Fib retracement degree of the downward transfer from the $1.6322 swing high to the $1.4330 low.

An in depth above $1.5320 might ship the worth to $1.5850. The subsequent hurdle sits at $1.60. A transparent transfer above the $1.60 resistance would possibly ship the worth towards the $1.620 resistance. Any extra positive factors would possibly ship the worth towards the $1.650 resistance. The subsequent main hurdle for the bulls is perhaps close to $1.70.

Another Drop?

If XRP fails to clear the $1.5320 resistance zone, it might begin a recent decline. Initial assist on the draw back is close to the $1.4320 degree. The subsequent main assist is close to the $1.4250 degree.

If there’s a draw back break and an in depth beneath the $1.4250 degree, the worth would possibly proceed to say no towards $1.412. The subsequent main assist sits close to the $1.4650 zone, beneath which the worth might proceed decrease towards $1.450.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now beneath the 50 degree.

Major Support Levels – $1.4320 and $1.4250.

Major Resistance Levels – $1.5320 and $1.550.

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