XRP Bulls Face Continued Pressure: Key Challenges Ahead
The post XRP Bulls Face Continued Pressure: Key Challenges Ahead appeared on BitcoinEthereumNews.com. XRP price is struggling below the $0.4250 support zone. The price is consolidating losses and might struggle to recover above the $0.450 resistance. XRP price struggled to recover above $0.450 and started another decline. The price is now trading below $0.4250 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might recover, but the upsides might be limited above $0.4350 and $0.450. XRP Price Moves In The Red Zone XRP price struggled to clear the $0.450 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.4320 support. The pair even declined heavily below the $0.4250 support level. There was a drop below the 50% Fib retracement level of the upward move from the $0.3826 swing low to the $0.4498 high. The bulls are now trying to protect the $0.4050 support zone. It is now trading below $0.4250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4160 level. The first major resistance is near the $0.420 level. There is also a connecting bearish trend line forming with resistance at $0.420 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 $0.450 level. Any more gains might send the price toward the $0.4650 resistance. More Losses? If XRP fails to clear the $0.420 resistance zone, it could start another decline. Initial support on the downside is near the $0.4050 level or the 61.8% Fib retracement level of the upward move from the $0.3826…
The post XRP Bulls Face Continued Pressure: Key Challenges Ahead appeared on BitcoinEthereumNews.com.
XRP price is struggling below the $0.4250 support zone. The price is consolidating losses and might struggle to recover above the $0.450 resistance. XRP price struggled to recover above $0.450 and started another decline. The price is now trading below $0.4250 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might recover, but the upsides might be limited above $0.4350 and $0.450. XRP Price Moves In The Red Zone XRP price struggled to clear the $0.450 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.4320 support. The pair even declined heavily below the $0.4250 support level. There was a drop below the 50% Fib retracement level of the upward move from the $0.3826 swing low to the $0.4498 high. The bulls are now trying to protect the $0.4050 support zone. It is now trading below $0.4250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4160 level. The first major resistance is near the $0.420 level. There is also a connecting bearish trend line forming with resistance at $0.420 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 $0.450 level. Any more gains might send the price toward the $0.4650 resistance. More Losses? If XRP fails to clear the $0.420 resistance zone, it could start another decline. Initial support on the downside is near the $0.4050 level or the 61.8% Fib retracement level of the upward move from the $0.3826…
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