XRP Price Crashes 15%, Slips Under $0.40: Difficult Recovery Ahead
05 Juli 2024 - 5:58AM
NEWSBTC
XRP price tumbled and dived below the $0.400 support zone. The
price is consolidating losses and might struggle to recover above
the $0.4150 resistance. XRP price gained bearish momentum below the
$0.4240 support zone. The price is now trading below $0.4250 and
the 100-hourly Simple Moving Average. There is a key bearish trend
line forming with resistance at $0.4150 on the hourly chart of the
XRP/USD pair (data source from Kraken). The pair might recover, but
the upsides might be limited above $0.4050 and $0.4150. XRP Price
Takes Hit XRP price struggled to clear the $0.4550 resistance and
started a fresh decline, like Bitcoin and Ethereum. The bears took
control and pushed the price below the $0.4240 support. The pair
even declined heavily below the $0.4150 support level. Finally, it
even spiked below the $0.400 support. A low was formed at $0.3826
and the price is now correcting losses. There was a recovery wave
above the $0.3920 resistance. The price climbed above the 23.6% Fib
retracement level of the recent decline from the $0.4467 swing high
to the $0.3862 low. It is now trading below $0.4250 and the
100-hourly Simple Moving Average. On the upside, the price is
facing resistance near the $0.4050 level. The first major
resistance is near the $0.4150 level and the 50% Fib retracement
level of the recent decline from the $0.4467 swing high to the
$0.3862 low. There is also a key bearish trend line forming with
resistance at $0.4150 on the hourly chart of the XRP/USD pair. The
next key resistance could be $0.4220. A clear move above the
$0.4220 resistance might send the price toward the $0.4380
resistance. The next major resistance is near the $0.4450 level.
Any more gains might send the price toward the $0.4650 resistance.
More Losses? If XRP fails to clear the $0.4150 resistance zone, it
could start another decline. Initial support on the downside is
near the $0.390 level. The next major support is at $0.3850. If
there is a downside break and a close below the $0.3850 level, the
price might continue to decline toward the $0.3620 support in the
near term. Technical Indicators Hourly MACD – The MACD for XRP/USD
is now gaining pace in the bearish zone. Hourly RSI (Relative
Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $0.390 and $0.3850. Major Resistance Levels
– $0.4050 and $0.4150.
Ripple (COIN:XRPUSD)
Historical Stock Chart
Von Sep 2024 bis Okt 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
Von Okt 2023 bis Okt 2024