๐ #XRP Price Eyes Rebound โ Key Support Levels Under the Microscope
A solid rise began for XRP from $2.20. The price is correcting and may find buyers at $2.220.
Above $2.220, XRP price rose again.
The price is above $2.220 and the 100-hour SMA.
On the hourly XRP/USD chart, a bullish trend line with support around $2.2250 is formed.
If it falls below $2.220, the pair may fall again.
Price Resistance for XRP
XRP, like Bitcoin and Ethereum, rose after settling over $2.20. The price broke $2.220 barrier.
Bulls broke $2.250. However, bears were active at $2.320. Price is correcting after hitting a peak at $2.310. The $2.148 swing low to $2.310 high upward advance fell below the 23.6% Fib retracement line.
The price is above $2.220 and the 100-hour SMA. On the hourly XRP/USD chart, a bullish trend line with support around $2.2250 is formed.
Price may find resistance at $2.2720 on the upside. Near $2.30 is the first substantial obstacle. $2.320 is next resistance. A clean break over $2.320 might push the market above $2.350. More advances might push the price toward $2.40 or $2.420. The bulls may face $2.50 next.
More Losses?
XRP may fall again if it fails to break $2.30. The trend line and $2.2250 provide first downward support. The next key support is $2.20, the 61.8% Fib retracement level of the bullish advance from $2.148 swing low to $2.310 high.
If the price breaks down and closes below $2.20, it may fall toward $2.150. Near $2.120 is the next key support.
Tech Indicators
The hourly MACD for XRP/USD is moving bearishly.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.2250, $2.20.
Major resistance levels: $2.30, $2.320.
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