XRP Price Consolidates, Gearing Up for Its Next Major Breakout

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,218,952,672,347	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,218,952,672,347

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	217.11	0.35%	62,020.08	62,018.46	62,020.08

Price Change

Price Change %

Current Price

Bid Price

Offer

217.11

0.35%

62,020.08

62,018.46

62,020.08

High Price	Low Price	Open Price	Prev. Close	52 Week Range
62,186.99	61,627.52	61,751.58	61,802.97	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

62,186.99

61,627.52

61,751.58

61,802.97

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:05:55	0.000152	62,020.08	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:05:55

0.000152

62,020.08

USD

Price x Volume	Volume	Base Symbol	Related Pairs
36,248,737.74	585.41	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

36,248,737.74

585.41

XRP Price Consolidates, Gearing Up for Its Next Major Breakout

24/05/2024 3:38am

NEWSBTC

XRP price extended its decline below the $0.520 support. The price is now trading in a range and eyeing an upside break above the $0.5320 resistance. XRP extended losses and declined below the $0.5120 support. The price is now trading above $0.5250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.5325 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5365 resistance zone. XRP Price Holds Ground In the past two sessions, XRP price saw a steady decline below the $0.5320 level. There were a few swing moves like Bitcoin and Ethereum. The price even spiked below the $0.5120 support zone. A low was formed at $0.5028 and the price is now correcting losses. There was a move above the $0.5200 and $0.5250 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5477 swing high to the $0.5028 low. The price is back above $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5320 level. There is also a key bearish trend line forming with resistance at $0.5325 on the hourly chart of the XRP/USD pair. The first key resistance is near $0.5365 or the 76.4% Fib retracement level of the downward move from the $0.5477 swing high to the $0.5028 low. A close above the $0.5365 resistance zone could send the price higher. The next key resistance is near $0.5480. If the bulls push the price above the $0.5480 resistance level, there could be a steady increase toward the $0.5570 resistance. Any more gains might send the price toward the $0.5800 resistance. Another Decline? If XRP fails to clear the $0.5320 resistance zone, it could start another decline within the range. Initial support on the downside is near the $0.5250 level and the 100 hourly SMA. The next major support is at $0.5140. If there is a downside break and a close below the $0.5140 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.5030 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 – $0.5250 and $0.5140. Major Resistance Levels – $0.5320 and $0.5365.

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