XRP’s price began to drop after hitting the $1.3750 zone. It’s now stabilizing and could rise again if it stays above $1.3280. The decline started when the price couldn’t hold above $1.3720. Currently, XRP is trading above $1.350 and the 100-hour simple moving average. On the hourly chart of the XRP/USD pair (data from Kraken), a bearish trend line is forming with resistance at $1.3650. The pair might see a fresh increase if it closes above $1.3750.
XRP Price Holds Support
XRP made a solid upward move above $1.3250 and $1.3280, outperforming Bitcoin and Ethereum. It gained momentum to break above the $1.370 resistance, reaching a high of $1.3741 before starting a downside correction. The price fell below $1.3450 and $1.3420, dipping under the 50% Fibonacci retracement level of the move from the $1.3001 low to the $1.3741 high. It’s now trading above $1.350 and the 100-hour simple moving average. On a fresh upward move, resistance may be near $1.3650, with a bearish trend line also at that level on the hourly chart. The first major resistance is around $1.3740; breaking above that could push the price to $1.3880. A clear move above $1.3880 might target $1.40, with further gains possibly reaching $1.420. The next big hurdle for buyers is near $1.450.
Downside Extension?
If XRP can’t break the $1.3740 resistance, it could start a new decline. Initial support is near $1.3370, followed by $1.3280 and the 61.8% Fibonacci retracement level of the move from $1.3001 to $1.3741. A break and close below $1.3280 could lead to a drop toward $1.3175. The next major support is around $1.3120; below that, the price might fall to $1.3050. Further losses could test $1.30.
Technical Indicators
– Hourly MACD: The MACD for XRP/USD is gaining momentum in bullish territory.
– Hourly RSI: The RSI is now above the 50 level.
– Major Support Levels: $1.3370 and $1.3280.
– Major Resistance Levels: $1.3650 and $1.3740.
Frequently Asked Questions
Here is a list of FAQs about XRP holding a key support level and waiting for a big move written in a natural tone with clear answers
BeginnerLevel Questions
Q What does it mean when people say XRP is holding a key support level
A It means the price keeps bouncing off a specific low price point instead of falling through it Think of it like a floor thats holding the price up If that floor breaks the price could drop a lot
Q Why is everyone talking about a big move for XRP
A When a coin like XRP stays stuck in a narrow price range for a while it often builds up energy Eventually it has to break out of that rangeeither shooting up or dropping down That sudden change is the big move
Q Is this a good time to buy XRP
A Not necessarily It could be a good entry point if the support holds and the price goes up But if the support breaks buying now could mean losing money fast Its a risky waiting game
Q What is a support level in simple terms
A Its a price where a lot of people are willing to buy which stops the price from falling further For example if XRP keeps bouncing off 050 that 050 is a support level
Q How can I tell if the support level is actually holding
A Look at the price chart If the price touches that level several times and bounces back up each time its holding Also if trading volume is high at that level its a stronger sign
IntermediateLevel Questions
Q What happens if XRP breaks below this key support level
A Its usually a bearish signal The price could drop quickly to the next support level Many traders set stoploss orders just below support to limit their losses if that happens
Q Whats the difference between a support level and a resistance level in this context