#XRP Support & Resistance on Hourly time frame | tariq54 on Binance Square

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#XRP Support & Resistance on Hourly time frame 

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New intelligence suggests Israel is preparing possible strike on Iranian nuclear facilities, US officials say. The US has obtained new intelligence suggesting that Israel is making preparations to strike Iranian nuclear facilities, even as the Trump administration has been pursuing a diplomatic deal with Tehran, multiple US officials familiar with the latest intelligence told CNN. Such a strike would be a brazen break with President Donald Trump, US officials said. It could also risk tipping off a broader regional conflict in the Middle East — something the US has sought to avoid since the war in Gaza inflamed tensions beginning in 2023. Officials caution it’s not clear that Israeli leaders have made a final decision, and that in fact, there is deep disagreement within the US government about the likelihood that Israel will ultimately act. Whether and how Israel strikes will likely depend on what it thinks of the US negotiations with Tehran over its nuclear program. But “the chance of an Israeli strike on an Iranian nuclear facility has gone up significantly in recent months,” said another person familiar with US intelligence on the issue. “And the prospect of a Trump-negotiated US-Iran deal that doesn’t remove all of Iran’s uranium makes the chance of a strike more likely.” The heightened worries stem not only from public and private messaging from senior Israeli officials that it is considering such a move, but also from intercepted Israeli communications and observations of Israeli military movements that could suggest an imminent strike, multiple sources familiar with the intelligence said. Among the military preparations the US has observed are the movement of air munitions and the completion of an air exercise, two of the sources said. But those same indicators could also simply be Israel trying to pressure Iran to abandon key tenets of its nuclear program by signaling the consequences if it doesn’t — underscoring the ever-shifting complexities the White House is navigating.

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XRP Price Eyes Gains, But Technicals Suggest Upsides May Be Limited. XRP price started a fresh decline below the $2.350 zone. The price is now recovering losses and might face hurdles near the $2.420 zone. The price is now trading above $2.350 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2.40 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start another decline if it stays below the $2.450 resistance. XRP price attempted a fresh decline below the $2.450 zone, unlike Bitcoin and Ethereum. There was a move below the $2.40 and $2.350 levels. The price even tested the $2.2850 zone. A low was formed at $2.2848 and the price is now attempting to recover. There was a move above the $2.32 and $2.350 levels. The price surpassed the 50% Fib retracement level of the downward move from the $2.449 swing high to the $2.848 high. However, the price now faces hurdles near the $2.40 level. The price is now trading above $2.35 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.40 level. There is also a connecting bearish trend line forming with resistance at $2.40 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.420 level. It is near the 76.4% Fib retracement level of the downward move from the $2.449 swing high to the $2.848 high. The next resistance is $2.50. A clear move above the $2.50 resistance might send the price toward the $2.60 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.680 in the near term. The next major hurdle for the bulls might be $2.80. Another Decline? If XRP fails to clear the $2.420 resistance zone, it could start another decline. Initial support on the downside is near the $2.350 level. The next major support is near the $2.320 level. If there is a downside break and a close below the $2.320 level, the price might continue to decline toward the $2.20 support. The next major support sits near the $2.120 zone.

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SEC Chair Unleases Plan to Merge Crypto and Securities Under One Roof A sweeping regulatory revolution is underway as the SEC unveils bold plans to unify crypto and securities oversight, slashing red tape and embracing market innovation. SEC Chair Declares New Crypto Era With Push for Unified Market Rules U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins, addressing the SEC Speaks conference on May 19, delivered a sweeping critique of the agency’s past approach to crypto and digital asset markets and laid out a new direction focused on transparency, engagement, and regulatory modernization. Atkins stated that the SEC had failed to keep pace with innovation and too often responded with enforcement rather than guidance. He recounted how crypto market participants were invited to meetings only to later receive subpoenas, describing this as a deterrent to open dialogue and progress. Atkins announced that the SEC is shifting gears, stating: It is a new day at the SEC. While I have directed Commission staff across our policy Divisions to begin drafting rule proposals related to crypto, the staff continue to ‘clear the brush’ through staff-level statements. These interim statements, he said, are intended to help fill the regulatory gap while formal rules are developed. Although such staff communications are not binding, Atkins explained their importance: “While the views of the staff are not rules or regulations of the Commission, they can provide useful insights for the public. Ultimately, the Commission is, of course, responsible and must itself squarely address these issues to ensure that the public has clear rules of the road.” Looking toward structural reforms, Atkins proposed a significant operational shift that would allow registered entities to manage both securities and non-securities within a unified regulatory framework.

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XRP faces downside risks above the 50-day EMA. XRP’s price falls sharply on Monday but holds above support at $2.28, as provided by the 50-day EMA. This follows a drawdown from last week’s high of $2.65, plausibly triggered by potential profit-taking among traders and sentiment in the broader cryptocurrency market, which deteriorated significantly on Monday. Based on the Relative Strength Index (RSI) indicator’s retreat to the midline of 50 from near-overbought conditions, the path with the least resistance could shift strongly downwards, especially if the RSI slides further toward the oversold region. Support at the 50-day EMA and the 100-day EMA, slightly below $2.25, is critical for resuming the uptrend, eyeing a return to $3.00. Beyond the two moving averages, declines could accelerate to retest the descending trendline and the 200-day EMA at approximately $2.00. The uptrend in the Money Flow Index (MFI) implies that more money is flowing into XRP than the outflow volume. In other words, trader interest remains steady despite the recent pullback.

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