XRP price attempted a recovery above $1.880 but faced resistance near $1.9250. Currently trading above $1.90 and the 100-hourly Simple Moving Average, the price shows some bearish signals that could lead to a drop below $1.880.
Earlier, XRP found support above $1.80 and climbed past $1.850 and $1.880, entering a short-term positive zone. The move included a break above a bearish trend line at $1.880 on the hourly chart and surpassed the 50% Fibonacci retracement level of the decline from $1.963 to $1.810. However, after a spike above $1.920, buyers couldn’t overcome the $1.9250 resistance or the 76.4% Fibonacci level.
For another upward move, XRP must clear the $1.9250 resistance, with the next key hurdles at $1.960, $2.00, $2.050, and potentially $2.150 or $2.20.
If it fails to break $1.9250, a fresh decline could begin. Initial support lies at $1.880, followed by $1.865. A break below $1.865 might lead to further losses toward $1.840, with major support near $1.820 and possibly $1.750.
Technical Indicators:
– Hourly MACD: Losing momentum in the bullish zone.
– Hourly RSI: Above 50.
– Major Support Levels: $1.880 and $1.865.
– Major Resistance Levels: $1.9250 and $1.960.
Frequently Asked Questions
FAQs XRP Price Surges Past Key Level Yet Buyers Remain Wary
BeginnerLevel Questions
1 What does it mean that XRP surged past a key level
It means the price of XRP rose above a specific price point that many traders and analysts were watching This level often acts as a psychological or technical barrier breaking above it can signal potential for further gains
2 What is higher resistance in this context
Resistance is a price level where selling pressure has historically been strong preventing the price from rising further Higher resistance refers to the next significant price barrier above the current level where sellers might step in again
3 Why would buyers be wary even if the price is going up
Buyers might be cautious because the price is approaching a known resistance level They fear that history might repeat itself causing the price to drop back down from that point which could lead to losses if they buy too high
4 Is this a good time to buy XRP
There is no definitive answer While breaking a key level is positive the wariness at higher resistance suggests uncertainty Its crucial to do your own research understand the risks and never invest more than you can afford to lose
5 What factors typically cause an XRP price surge
Surges can be driven by positive news broader cryptocurrency market rallies major exchange listings or largescale purchases by institutional investors
Advanced Strategic Questions
6 What are common key levels traders look at for XRP
Traders often watch major psychological levels important moving averages and previous areas of support and resistance identified on the price chart
7 What does a failure at resistance look like and what happens next
It occurs when the price touches or slightly passes a resistance level but then gets pushed down with increasing selling volume This often leads to a pullback toward the previous support or key level it just broke
8 How can I identify the next major resistance level for XRP
You can analyze historical price charts to see where the price has previously peaked and reversed Technical analysts also use tools like