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XRP Price Consolidates—Breakout or Choppy Moves?
XRP began a new comeback over $2.40. The price is correcting from $2.50 and may test $2.35.
XRP resumed rebound over $2.40 barrier.
The price is above $2.40 and the 100-hour SMA.
On the hourly XRP/USD chart, a bullish trend line with support at $2.430 broke.
Breaking the $2.40 support zone might prolong losses.
Gains Cut for XRP
Like Bitcoin and Ethereum, XRP held support and recovered over $2.320. The price broke $2.40 and $2.420 barrier.
Bulls broke the 50% Fib retracement level of the bearish wave from the $2.580 swing high to the $2.354 low. Price tested $2.50 resistance. No upward continuation occurred, and the price fell.
On the hourly XRP/USD chart, a bullish trend line with support at $2.430 broke. The price is above $2.40 and the 100-hour SMA.
Price may find resistance at $2.450 on the upside. Near $2.480 is the first big resistance. Next resistance is $2.50, the 61.8% Fib retracement level of the negative wave from $2.580 swing high to $2.354 low.
A clean break over $2.50 might push the market above $2.550. More advances might push the price toward $2.650 or $2.6650. $2.80 may be the bulls' next challenge.
More Losses?
XRP may fall again if it fails to break $2.480. The downside has first support at $2.40. Near $2.350 is the next important support.
If the price breaks down and closes below $2.350, it may fall toward $2.320. Around $2.250 is the next big support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $2.40, $2.350.
Two major resistance levels: $2.480 and $2.50.#Price-Prediction #BinanceAlphaAlert

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