XRP Price Facing Another Drop: Understanding The Key Drivers

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	25,724,379,188	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

25,724,379,188

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0008	0.17%	0.4714	0.4714	0.4715

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0008

0.17%

0.4714

0.4715

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4717	0.4707	0.471	0.4706	0.399480 - 0.950000

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.4717

0.4707

0.471

0.4706

0.399480 - 0.950000

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:17:48	3,300.00	0.4714	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:17:48

3,300.00

0.4714

USD

Price x Volume	Volume	Base Symbol	Related Pairs
96,122.40	204,018.50	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

96,122.40

204,018.50

XRP Price Facing Another Drop: Understanding The Key Drivers

26/06/2024 4:58am

NEWSBTC

XRP price started a recovery wave from the $0.4620 support. The price is now struggling to clear $0.4780 and might restart its decline. XRP price is attempting a recovery wave from the $0.4620 support zone. The price is now trading below $0.4800 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.4770 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might face rejections near $0.4780 and $0.480. XRP Price Faces Resistance XRP price extended losses below the $0.480 level like Bitcoin and Ethereum. The price even spiked below $0.4650 and tested the $0.4620 zone. A low was formed at $0.4619 and the price recently started a recovery wave. There was an upward move above the $0.4700 and $0.4720 resistance levels. The price even surpassed the 50% Fib retracement level of the downward wave from the $0.4885 swing high to the $0.4620 low. However, the bears seem to be active near the $0.4780 zone. They are protecting the 61.8% Fib retracement level of the downward wave from the $0.4885 swing high to the $0.4620 low. There is also a key bearish trend line forming with resistance at $0.4770 on the hourly chart of the XRP/USD pair. It is now trading below $0.4800 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4770 level. The first major resistance is near the $0.4800 level. A clear move above the $0.4800 resistance might send the price toward the $0.4885 resistance. The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher. The next key resistance is near $0.5250. Any more gains might send the price toward the $0.5500 resistance. Another Decline? If XRP fails to clear the $0.4800 resistance zone, it could start another decline. Initial support on the downside is near the $0.4685 level. The next major support is at $0.4620. If there is a downside break and a close below the $0.4620 level, the price might gain bearish momentum. In the stated case, the price could even trade below the $0.450 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level. Major Support Levels – $0.4685 and $0.4620. Major Resistance Levels – $0.4770 and $0.4800.

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XRPUSD Ripple