XRP price has begun a steady rise above $1.90 but is currently struggling to break past $1.950, which could lead to a fresh decline below $1.90. Currently, the price is trading above $1.910 and the 100-hour Simple Moving Average. On the hourly chart of XRP/USD, a declining channel or flag pattern is forming, with resistance around $1.940. A sustained move above $1.950 could signal further upward momentum.
XRP recently saw a decent upward move above $1.880 and $1.90, gaining momentum to clear the $1.920 resistance and even pushing past $1.9420. After reaching a high near $1.9578, the price started to correct downward, dipping below the 23.6% Fibonacci retracement level of the recent rise from $1.770 to $1.9578.
If the price attempts another upward move, it may face resistance near $1.940. The first major resistance is around $1.9550. A break above that could test $2.00, with further gains potentially targeting $2.050, $2.120, and eventually $2.150.
On the downside, if XRP fails to clear the $1.9550 resistance, it could start a fresh decline. Initial support lies near $1.90, followed by a more significant level around $1.8650, which aligns with the 50% Fibonacci retracement of the recent upward move. A break and close below $1.8650 could lead to further declines toward $1.8420, with major support near $1.80 and possibly $1.7750.
Technical Indicators
– Hourly MACD: Losing momentum in the bullish zone.
– Hourly RSI: Hovering near the 50 level.
– Major Support Levels: $1.90 and $1.8650.
– Major Resistance Levels: $1.9550 and $2.00.
Frequently Asked Questions
FAQs XRP Price Attempts Recovery Is Momentum Shifting
Beginner Questions
What does XRP attempting a recovery mean
It means the price of XRP which had been falling or in a slump is showing signs of trying to rise and regain lost value
Why is XRPs price trying to recover now
Recovery attempts can be triggered by various factors like positive news a general rise in the overall crypto market increased buying interest or technical patterns suggesting a potential turnaround
What is momentum in crypto trading
Momentum refers to the speed or rate at which a price is moving in a particular direction Momentum shifting suggests the downward trend may be slowing and a potential upward trend is beginning
Is now a good time to buy XRP
This is not financial advice While a recovery attempt might seem promising cryptocurrency prices are highly volatile Always do your own research consider your risk tolerance and never invest more than you can afford to lose
Where can I check XRPs current price and momentum
You can use popular crypto tracking websites and apps like CoinMarketCap CoinGecko or TradingView which show price charts trading volume and various technical indicators
Intermediate Market Analysis Questions
What are common signs that momentum is shifting for XRP
Signs can include the price consistently holding above a previous support level increasing trading volume on upswings positive divergence on momentum indicators and breaking past key shortterm resistance levels
How does the overall crypto market affect XRPs recovery
XRP often moves with the broader crypto market A strong bullish trend in major cryptocurrencies like Bitcoin and Ethereum can provide a tailwind for XRPs recovery attempts
What role does trading volume play in a recovery
A price increase with high trading volume is generally seen as a stronger more legitimate sign of shifting momentum than a price rise on low volume which could be a temporary bounce
What are key resistance levels to watch for XRP
Traders watch previous price highs where selling pressure increased Breaking through these levels could confirm stronger bullish momentum Current levels change so check a live chart