XRP price began recovering above $1.90 and is now consolidating, though it may struggle to break the $2.00 resistance. Currently, it is trading below $2.00 and the 100-hour Simple Moving Average. A bearish trend line is forming with resistance around $1.9520 on the hourly XRP/USD chart. A sustained move above $2.00 could support further upward momentum.
XRP found support above $1.850 and started to recover, similar to Bitcoin and Ethereum. It climbed past $1.880 and $1.90, entering a short-term positive zone, and even moved above the 23.6% Fibonacci retracement level of the decline from the $2.047 high to the $1.850 low. However, sellers prevented a close above $1.950, pushing the price lower. The price is now below $1.950 and the 100-hour SMA. Any fresh upward move could face resistance near $1.950 and the trend line, which aligns with the 50% Fibonacci retracement level of the same decline.
The first major resistance is near $2.00. A close above this level could lift the price toward $2.050, with further hurdles at $2.120 and $2.20. Additional gains might target $2.220, with the next major resistance near $2.250.
If XRP fails to clear the $2.00 resistance, it could start a fresh decline. Initial support is near $1.90, followed by the major support at $1.850. A break and close below $1.850 could lead to further declines toward $1.820, with the next major support near $1.80. A drop below that might extend losses toward $1.7650.
Technical Indicators
– Hourly MACD: Losing momentum in the bearish zone.
– Hourly RSI: Currently above the 50 level.
– Major Support Levels: $1.90 and $1.850.
– Major Resistance Levels: $1.950 and $2.00.
Frequently Asked Questions
FAQs XRPs Price Rebound and Resistance
Beginner Questions
1 What does price rebound mean for XRP
A price rebound is when XRPs value after a period of decline starts to rise again Its like a recovery attempt after a drop
2 What is resistance in trading
Resistance is a specific price level where selling pressure has historically been strong enough to prevent the price from rising further Think of it as a ceiling the price struggles to break through
3 Why does XRPs rebound look unstable
The rebound may appear shaky because the price keeps testing a key resistance level but fails to hold gains decisively with trading volume possibly being low or inconsistent This creates uncertainty about the strength of the recovery
4 Can buyers really push the price past resistance
Yes its possible If buying volume increases significantly and sustains it can overcome the selling pressure at resistance turning that level into new support and potentially leading to a stronger uptrend
5 What happens if XRP fails to break resistance
If it fails the price will likely pull back or consolidate below that level Repeated failures can lead to a decline toward the next major support level
Intermediate Advanced Questions
6 What technical indicators should I watch to gauge the rebounds strength
Key indicators include
Volume Rising volume on upswings confirms buyer interest
Relative Strength Index Indicates if XRP is overbought or oversold
Moving Averages A rebound holding above the 50day or 200day average can signal strength
7 Besides technicals what fundamental factors could help XRP break resistance
Positive developments like favorable legal clarity new major partnerships adoption by financial institutions or positive shifts in overall crypto market sentiment can provide the fundamental fuel for a breakout
8 What is a fakeout or bull trap
This is when the price briefly breaks above resistance luring in buyers but then quickly reverses and falls back down Its a false signal that can trap traders who bought the breakout
9 How can traders manage risk during this unstable period