🧨 XRP Ready to Explode? Price Coils Tight Before Major Breakout
Below $2.3350, XRP fell again. Recovering losses may push the price over $2.40.
Below $2.40, XRP fell again.
The price is between $2.350 and the 100-hour SMA.
On the hourly XRP/USD chart, a negative trend line connects to resistance around $2.3620.
If it remains below $2.420, the pair may fall again.
Unlike Bitcoin and Ethereum, XRP fell below $2.420. It fell below $2.40 and $2.3650. Price approached $2.3150.
Price has fallen to $2.3157 and is trying to rebound. Prices rose over $2.335 and $2.350. Price challenged the 50% Fib retracement level of the dip from $2.4068 swing high to $2.3157 high.
However, the price confronts challenges at $2.3650. On the hourly XRP/USD chart, a negative trend line connects to resistance around $2.3620.
The 100-hourly Simple Moving Average and $2.35 are nearby. Price may find resistance at $2.3650 on the upside. Near $2.3850 is the first significant resistance. The downward move from the $2.4068 swing high to $2.3157 high is approaching the 76.4% Fib retracement line.
Next resistance is $2.420. A clean break over $2.420 might push the price above $2.450. More advances might push the price toward $2.50 or $2.550. The bulls may face $2.650 next.
Another Fall?
XRP may fall again if it fails to break $2.420. The downside has first support at $2.3150. Near $2.30 is the next important support.
If the price breaks down and closes below $2.30, it may fall toward $2.220. Near $2.20 is the next important support.
Tech Indicators
Hourly MACD on XRP/USD is falling in the negative zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.3150, $2.30.
Two major resistance levels: $2.420 and $2.50.
