XRP Price Slips But Will The 100-SMA Ignite A Comeback?

XRP terms extended gains and tested the $0.5420 level. The terms is present correcting gains and investigating the $0.5320 enactment zone.

• XRP terms could summation gait for a determination supra the $0.5420 absorption zone.
• The terms is present trading supra $0.5320 and the 100-hourly Simple Moving Average.
• There was a interruption beneath a connecting bullish inclination enactment with enactment astatine $0.540 connected the hourly illustration of the XRP/USD brace (data root from Kraken).
• The brace could summation bullish momentum if it clears the $0.5420 and $0.5450 absorption levels.

XRP Price Eyes Upside Break

XRP terms started a betterment question supra the $0.5220 level similar Bitcoin and Ethereum. The terms was capable to ascent supra the $0.5250 and $0.5320 absorption levels.

Finally, the terms spiked toward the $0.5420 level earlier the bears emerged. The terms formed a apical adjacent $0.5426 and is present correcting gains. There was a determination beneath the $0.540 level. The terms dipped beneath the 23.6% Fib retracement level of the upward determination from the $0.5021 plaything debased to the $0.5426 high.

There was besides a interruption beneath a connecting bullish inclination enactment with enactment astatine $0.540 connected the hourly illustration of the XRP/USD pair. The terms is present trading supra $0.5320 and the 100-hourly Simple Moving Average.

On the upside, the terms mightiness look absorption adjacent the $0.5400 level. The archetypal large absorption is adjacent the $0.5420 level. The adjacent cardinal absorption could beryllium $0.5450.

A wide determination supra the $0.5450 absorption mightiness nonstop the terms toward the $0.5550 resistance. The adjacent large absorption is adjacent the $0.5720 level. Any much gains mightiness nonstop the terms toward the $0.5950 absorption oregon adjacent $0.600 successful the adjacent term.

Another Decline?

If XRP fails to wide the $0.540 absorption zone, it could commencement different decline. Initial enactment connected the downside is adjacent the $0.5320 level and the 100 hourly SMA. The adjacent large enactment is $0.5225 oregon the 50% Fib retracement level of the upward determination from the $0.5021 plaything debased to the $0.5426 high.

If determination is simply a downside interruption and a adjacent beneath the $0.5225 level, the terms mightiness proceed to diminution toward the $0.5110 enactment successful the adjacent term. The adjacent large enactment sits astatine $0.5020.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is present losing gait successful the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is present beneath the 50 level.

Major Support Levels – $0.5320 and $0.5225.

Major Resistance Levels – $0.5400 and $0.5420.