XRP Price Consolidates, Gearing Up for Its Next Major Breakout

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,309,015,261,491	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,309,015,261,491

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	510.44	0.77%	66,702.45	66,702.44	66,702.45

Price Change

Price Change %

Current Price

Bid Price

Offer

510.44

0.77%

66,702.45

66,702.44

66,702.45

High Price	Low Price	Open Price	Prev. Close	52 Week Range
66,760.00	65,999.00	66,174.72	66,192.01	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

66,760.00

65,999.00

66,174.72

66,192.01

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:04:13	0.00000526	66,702.45	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

17:04:13

0.00000526

66,702.45

USD

Price x Volume	Volume	Base Symbol	Related Pairs
104,250,346.57	1,569.89	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

104,250,346.57

1,569.89

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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