Can XRP Price Recover? Analyzing the Potential for a Rebound

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,205,045,492,815	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,205,045,492,815

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	464.33	0.76%	61,355.47	61,355.47	61,355.48

Price Change

Price Change %

Current Price

Bid Price

Offer

464.33

0.76%

61,355.47

61,355.48

High Price	Low Price	Open Price	Prev. Close	52 Week Range
61,672.69	60,611.01	60,866.66	60,891.14	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

61,672.69

60,611.01

60,866.66

60,891.14

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	09:42:30	0.000652	61,350.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

09:42:30

0.000652

61,350.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
102,704,703.98	1,680.91	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

102,704,703.98

1,680.91

Can XRP Price Recover? Analyzing the Potential for a Rebound

04/06/2024 4:08am

NEWSBTC

XRP price is slowly moving higher from the $0.5080 zone. It could gain bullish momentum if there is a move above the $0.5250 resistance zone. XRP is attempting a fresh increase above the $0.5120 zone. The price is now trading above $0.5150 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $0.5160 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a decent increase if there is a clear move above $0.5250. XRP Price Eyes Recovery XRP price extended losses below the $0.5120 level like Bitcoin and Ethereum. The price tested the $0.5080 zone and recently started a decent recovery wave. The price was able to clear the $0.5120 and $0.5150 resistance levels. There was a break above a key bearish trend line with resistance near $0.5160 on the hourly chart of the XRP/USD pair. The pair cleared the 23.6% Fib retracement level of the downward move from the $0.5400 swing high to the $0.5080 low. The price is now trading above $0.5150 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5220 level. The first key resistance is near $0.5250 or the 50% Fib retracement level of the downward move from the $0.5400 swing high to the $0.5080 low. A close above the $0.5250 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance. Another Decline? If XRP fails to clear the $0.5250 resistance zone, it could start another decline. Initial support on the downside is near the $0.5160 level. The next major support is at $0.5080. If there is a downside break and a close below the $0.5080 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.50 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5160 and $0.5080. Major Resistance Levels – $0.5220 and $0.5250.

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