XRP Price Rebound in Jeopardy: Recovery May Falter

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	25,893,510,843	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

25,893,510,843

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.4747	0.4746	0.4747

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.4747

0.4746

0.4747

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4759	0.4738	0.4746	0.4747	- - -

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.4759

0.4738

0.4746

0.4747

- - -

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	01:47:18	586.31	0.4747	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

01:47:18

586.31

0.4747

USD

Price x Volume	Volume	Base Symbol	Related Pairs
762,609.75	1,606,376.41	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

762,609.75

1,606,376.41

XRP Price Rebound in Jeopardy: Recovery May Falter

10/06/2024 6:08am

NEWSBTC

XRP price declined heavily from the $0.5250 resistance zone. It tested the $0.4540 support zone and is now attempting to recover above $0.4880. XRP is correcting losses above the $0.4820 and $0.4840 levels. The price is now trading below $0.5050 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could dip again if it stays below the $0.5050 resistance zone. XRP Price Takes Hit XRP price started a major decline like Ethereum and declined below the $0.50 support. The price even spiked below the $0.4650 support zone. A low was formed at $0.4533 and the price is now correcting losses. There was a move above the $0.470 and $0.4750 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. There is also a connecting bullish trend line forming with support at $0.4950 on the hourly chart of the XRP/USD pair. The pair is slowly moving above the 61.8% Fib retracement level of the downward move from the $0.5271 swing high to the $0.4533 low. However, it is still trading below $0.5050 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.500 level. The first key resistance is near $0.5050. The next major resistance is near the $0.5120 level. A close above the $0.5120 resistance zone could send the price higher. The next key resistance is near $0.5250. If there is a close above the $0.5250 resistance level, there could be a steady increase toward the $0.5320 resistance. Any more gains might send the price toward the $0.550 resistance. Another Drop? If XRP fails to clear the $0.5050 resistance zone, it could start another decline. Initial support on the downside is near the $0.4950 level and the trend line. The next major support is at $0.4900. If there is a downside break and a close below the $0.490 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.4740 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.4950 and $0.4900. Major Resistance Levels – $0.500 and $0.5050.

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XRPUSD Ripple