XRP Price Downtrend May Resume, Sellers Eye Control Again

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Reason to trust How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price started a recovery wave above $1.360 and $1.3620. The price is now consolidating and might aim for a fresh move if it clears $1.3830. - XRP price started a recovery wave above the $1.3620 zone. - The price is now trading below $1.3850 and the 100-hourly Simple Moving Average. - There is a bearish trend line forming with resistance at 1.3760 on the hourly chart of the XRP/USD pair (data source from Kraken). - The pair could continue to move up if it settles above $1.3830. XRP Price Holds Support XRP price remained supported above $1.3450 and started a recovery wave, like Bitcoin and Ethereum. The price was able to climb above $1.3550 and $1.3620 to enter a short-term positive zone. There was also a move above the 23.6% Fib retracement level of the downward move from the $1.4060 swing high to the $1.3460 swing low. However, the bears are now active near the $1.3750 zone. Besides, there is a bearish trend line forming with resistance at 1.3760 on the hourly chart of the XRP/USD pair. The price is now trading below $1.3850 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3830 level or the 61.8% Fib retracement level of the downward move from the $1.4060 swing high to the $1.3460 swing low. The first major resistance is near the $1.3920 level. A close above $1.3920 could send the price to $1.40. The next hurdle sits at $1.4060. A clear move above the $1.4060 resistance might send the price toward the $1.4120 resistance. Any more gains might send the price toward the $1.420 resistance. Another Drop? If XRP fails to clear the $1.3830 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3620 level. The next major support is near the $1.350 level. If there is a downside break and a close below the $1.350 level, the price might continue to decline toward $1.3220. The next major support sits near the $1.3150 zone, below which the price could continue lower toward $1.30. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.3620 and $1.3500. Major Resistance Levels – $1.3830 and $1.3920.

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