🚀 XRP Eyes Comeback — Is a Major Rebound on the Horizon?
Below $2.320, XRP fell again. The price is correcting losses and may break $2.350 barrier.
Below $2.300, XRP fell again.
The price is below $2.320 and the 100-hour SMA.
XRP/USD broke above a negative trend line with resistance around $2.2920 on the hourly chart.
If it breaks $2.3250, the pair may fall again.
Price Resistance for XRP
Unlike Bitcoin and Ethereum, XRP found support around $2.220 and began a rebound. Above $2.2650 and $2.280 barrier levels,
Above the 50% Fib retracement level of the falling wave from $2.3540 swing high to $2.2279 low. Additionally, the hourly XRP/USD chart broke above a negative trend line with resistance around $2.2920.
However, bears were active around $2.30. The price is below $2.320 and the 100-hour SMA. Price may find resistance at $2.3250 on the upside. The falling wave from the $2.3540 swing high to the $2.2279 low is approaching the 76.4% Fib retracement line.
Near $2.3350 is the first big resistance. $2.350 is next resistance. A clean break over $2.350 might push the price near $2.40. More advances might push the price toward $2.420 or $2.450. The bulls may face $2.50 next.
Another Drop?
XRP may fall again if it fails to break $2.320. Around $2.280 is first downward support. Near $2.260 is the next important support.
If the price breaks down and closes below $2.260, it may fall toward $2.2320. Near $2.20 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.280, $2.260.
Two major resistance levels: $2.320 and $2.340.
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