XRP Price Prediction
Bitcoin

XRP Price Prediction – Will Bearish Trend Push Prices Under $0.50?

XRP value is struggling to get well above the $0.520 resistance. The worth may acquire bearish momentum if it breaks the $0.50 assist.

  • XRP is making an attempt a contemporary improve and going through hurdles close to $0.520.
  • The worth is now buying and selling close to $0.5150 and the 100 easy shifting common (4 hours).
  • There’s a main bearish development line forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair (information supply from Kraken).
  • The pair may acquire bullish momentum if there’s a shut above the $0.520 resistance.

XRP Worth Goals Upside Break

Not too long ago, XRP value climbed above the $0.550 resistance and examined $0.570. A excessive was shaped at $0.5705 earlier than there was a pullback like Bitcoin and Ethereum. The worth dipped beneath the $0.5250 assist zone.

It even spiked beneath $0.500 and examined $0.4980. A low was shaped at $0.4990 and the worth is now consolidating close to the 23.6% Fib retracement degree of the downward transfer from the $0.5705 swing excessive to the $0.4990 low. It additionally trades close to $0.5150 and the 100 easy shifting common (4 hours).

Quick resistance is close to the $0.520 degree. There may be additionally a serious bearish development line forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair.

Supply: XRPUSD on TradingView.com

The subsequent key resistance is close to $0.5350 or the 50% Fib retracement degree of the downward transfer from the $0.5705 swing excessive to the $0.4990 low. An in depth above the $0.5350 resistance zone may spark a robust improve. The subsequent key resistance is close to $0.570. If the bulls stay in motion above the $0.570 resistance degree, there might be a rally towards the $0.620 resistance. Any extra positive factors would possibly ship the worth towards the $0.680 resistance.

Extra Losses?

If XRP fails to clear the $0.520 resistance zone, it may begin one other decline. Preliminary assist on the draw back is close to the $0.500 degree.

The subsequent main assist is at $0.490. If there’s a draw back break and an in depth beneath the $0.490 degree, the worth would possibly speed up decrease. Within the acknowledged case, the worth may retest the $0.460 assist zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining tempo within the bullish zone.

4-Hours RSI (Relative Energy Index) – The RSI for XRP/USD is now close to the 50 degree.

Main Help Ranges – $0.500, $0.4990, and $0.460.

Main Resistance Ranges – $0.520, $0.5350, and $0.570.

Disclaimer: The article is supplied for academic functions solely. It doesn’t characterize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your personal analysis earlier than making any funding choices. Use data supplied on this web site fully at your personal danger.