XRP Price Explodes 25%: Will The Recovery Sustain or Fizzle Out?
The price of XRP restored most of the losses and gathered more than 25 %. The price has returned to more than $ 2.65 and is now facing an obstacle of $ 2.820.
- The price of XRP prices is higher than $ 2.50.
- At present, the price of price transactions is less than 2.80 US dollars and 100 hours of simple moving average.
- On the hour chart of the XRP/USD pair of diagram (Kraken’s data source), there is a breakthrough in the connection trend line of the resistance.
- If the couple cleared the US $ 2.820 resistance area, the couple may begin to grow new.
XRP price resumed 25 %
The price of XRP began to be less than 2.850 US dollars, just like Bitcoin and EthereumEssence The price fell sharply below $ 2.50 and $ 2.350. The bear even pushed it below $ 2.00.
A sharp drop of 25 %, the price was tested at $ 1.75. The low price price is 1.75 US dollars, and the price has recently begun to recover sharply. Bulls will be higher than $ 2.20 and $ 2.50. From the low point of the $ 3.155 to $ 1.750, the 61.8 % FIB retracement level of the downward movement was moved by 61.8 %.
In addition, there is a discount above the XRP/USD pair of charts, and there is a discount above the connected trend line with a resistance of $ 2.420. At present, the price of price transactions is less than 2.80 US dollars and 100 hours of simple moving average.
In good aspects, the price may face a $ 2.80 resistance. The first main resistance was a level close to $ 2.820 and a 76.4 % FIB retracement level, from a swing speed of $ 3.155 to $ 1.750. The next resistance is $ 2.940.
The obvious movement of the resistance of more than $ 2.940 may transfer the price to a $ 3.00 resistance. In the short term, more income may send the price to $ 3.050 or even $ 3.120. The next major obstacle of the Bulls may be $ 3.20.
Another decline?
If XRP cannot remove the $ 2.820 resistance area, it may fall again. The initial support of the shortcomings is close to $ 2.620. The next main support is nearly $ 2.50.
If there are disadvantages, the price below $ 2.50, the price may continue to fall to US $ 2.450. The next main support is nearly nearly $ 2.350.
Technical indicator
MACD -XRP/USD’s MACD is now looking at the pace of bullish areas.
The hour RSI (relative strength index) -The RSI of XRP/USD is now higher than level 50.
The main support level-$ 2.620 and $ 2.450.
The main resistance level-$ 2.80 and 2.820.
