XRP Price Crashes Hard: Is There a Recovery in Sight?
The price of XRP began to be lower than $ 3.00. The price dropped by 25 % to a support area of $ 2.00.
- The price of XRP prices decreased below $ 2.80 and $ 2.50.
- At present, the price of price transactions is less than 2.60 US dollars and 100 hours of simple moving average.
- On the hour chart of the hourly chart of the XRP/USD pair (data source of Kraken), there is a connected trend line that connects to the tide trend line with a resistance of $ 2.45.
- If the couple cleared the $ 2.50 resistance area, new increases may begin.
XRP price eye recovery
The price of XRP began to be lower than $ 3.00, just like Bitcoin and EthereumEssence The price fell sharply below $ 2.80 and US $ 2.50. The bear even pushed it below $ 2.00.
A sharp drop of 25 %, the price was tested at $ 1.75. The low price is 1.75 US dollars, and the price is now correcting some losses. Level higher than $ 2.00. The price transferred from the low point of 3.155 $ 3.155 to a $ 1.750 low, exceeding the level of FIB retracement at 23.6 %.
At present, the price of the price is less than 2.750 US dollars and a simple moving average of 100 hours. In good aspects, the price may face resistance at a level of $ 2.30. The first main resistance is nearly $ 2.40.
The next resistance is $ 2.450. On the hourly chart of the XRP/USD pair, there is also a connected trend line that connects to the top of $ 2.45. It is close to a swinging high point from $ 3.155 to a 50 % FIB retracement level at $ 1.750 low.
The obvious movement of the resistance of more than $ 2.450 may transfer the price to a $ 2.50 resistance. In the short term, more income may send the price to $ 2.650 or even $ 2.720. The next major obstacle of the Bulls may be $ 3.00.
Another decline?
If XRP cannot remove the $ 2.40 resistance area, it may decrease again. The initial support of the shortcomings is close to $ 2.10. The next main support is close to $ 2.00.
If there are disadvantages, the price is lower than $ 2.00, the price may continue to fall to the support of $ 1.850. The next main support is near the area near $ 1.750.
Technical indicator
MACD -XRP/USD’s MACD is now accelerating.
The hour RSI (relative strength index) -The RSI of XRP/USD is now lower than level 50.
Main support level-$ 2.10 and $ 2.00.
The main resistance level-$ 2.40 and 2.50.
