XRP Price Pauses—Can Bulls Recover?
Above $2.30, XRP price rose again. The price is reversing gains and maintaining $2.220.
Above $2.30, XRP price rose again.
The price is below $2.2650 and the 100-hour SMA.
The hourly XRP/USD chart shows a contracting triangle with support around $2.220.
Unless it closes below $2.220, the pair may rise again.
XRP Maintains Support
XRP topped Bitcoin and Ethereum by rising over $2.250 and $2.280 barrier levels. Price rose over $2.30 to enter a bullish zone.
A negative correction began once the price reached $2.359. Below $2.30 and $2.280 support levels. Price tested $2.220 support. The price has created a low at $2.2220 and is consolidating losses below the 23.6% Fib retracement level of the decline from the $2.359 swing high.
The price is below $2.2650 and the 100-hour SMA. Price may find resistance at $2.250 on the upside.
Near $2.280 is the first big resistance. The hourly XRP/USD chart shows a major contracting triangle with support at $2.220. Next resistance is $2.30, the 61.8% Fib retracement level of the decline from the $2.359 swing high to the $2.2220 low.
A clean break over $2.30 might push the market above $2.350. More advances might push the price toward $2.320 or $2.350. The bulls may face $2.420 next.
Support dips?
XRP may fall again if it fails to break $2.2650. Initial downward support is about $2.220. Near $2.20 is the next important support.
If the price breaks down and closes below $2.20, it may fall near $2.160.
Tech Indicators
The hourly MACD for XRP/USD is moving bearishly.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.220, $2.20.
Two major resistance levels: $2.2650 and $2.30.
