XRP Pumps and Pulls Back — Will Bulls Step In Again?
XRP price rose strongly over $2.250 and touched $2.35. Below $2.30, pricing is reversing gains.
Above $2.250, XRP price rose again.
The price is above $2.250 and the 100-hour SMA.
XRP/USD broke below a positive trend line with support around $2.2650 on the hourly chart.
If it remains over $2.240, the pair may rise again.
XRP Price Loses Gains
After breaking $2.250, XRP rose over Bitcoin and Ethereum. The price broke $2.2850 resistance.
Bulls broke $2.30. Bears remained busy at $2.350. Price rejection caused a new drop. It fell below the 50% Fib retracement of the $2.205 swing low to $2.353 high.
Additionally, the hourly XRP/USD chart broke below a positive trend line with support around $2.2650. The price is above $2.250 and the 100-hour SMA.
Price may find resistance at $2.280 on the upside. Near $2.2880 is the first big resistance. A clean break over $2.2880 might push the market above $2.320. More advances might push the price toward $2.350 or $2.3650. The bulls may face $2.40 next.
More Losses?
XRP may fall again if it fails to break $2.2880. Around $2.250 is first downward support. Next key support is approaching $2.240, the 76.4% Fib retracement level of the upward run from $2.205 swing low to $2.353 high.
If the price breaks down and closes below $2.240, it may fall near $2.220. Near $2.20 is the next important 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: $2.250, $2.240.
Two major resistance levels: $2.2880 and $2.320.
