Oh boy, XRP price took a nosedive like it was trying out for the Olympic diving team! 💔 It went below the $3.00 mark, leaving us all scratching our heads. 😕 The price is down over 25%, and it even dipped below the $2.00 support zone. 🙀
- XRP price started a fresh decline, like it was auditioning for a horror movie. 👻 It went below the $2.80 and $2.50 levels, leaving investors wondering what the heck just happened. 😱
- The price is now trading below $2.60 and the 100-hourly Simple Moving Average. It’s like it’s trying to break some kind of record for fastest decline ever. 🏎️
- There’s a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP/USD pair. It’s like the price is saying “Resistance is futile!” 🖖
- The pair might start a fresh increase if it clears the $2.50 resistance zone. But let’s be real, who knows what XRP will do next? 🤷♂️
XRP price started a fresh decline, like it was trying to escape the clutches of gravity. 🌠 It declined heavily below the $2.80 and $2.50 support levels. The bears even pushed it below $2.00. It was like watching a slow-motion train wreck. 🚂
There was a sharp drop of over 25%, and the price tested the $1.75 zone. A low was formed at $1.75, and the price is now correcting some losses. There was a move above the $2.00 level, but let’s not get too excited yet. 🙄
The price is now trading below $2.750 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.30 level. The first major resistance is near the $2.40 level. But let’s be honest, XRP has been known to surprise us before. 🤭
The next resistance is $2.450. There is also a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP/USD pair. It’s like the price is trying to tell us something. 🤨
A clear move above the $2.450 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.720 in the near term. The next major hurdle for the bulls might be $3.00. But again, who knows what XRP will do next? 🤷♀️
Another Decline? 🙈
If XRP fails to clear the $2.40 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.00 level. It’s like we’re playing a game of tug-of-war with XRP’s price. 😅
If there is a downside break and a close below the $2.00 level, the price might continue to decline toward the $1.850 support. The next major support sits near the $1.750 zone. Let’s hope XRP doesn’t decide to take a dive anytime soon. 🤞
Technical Indicators 📊
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. It’s like it’s trying to outdo itself in terms of negativity. 😣
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. It’s like it’s trying to tell us that things are getting worse before they get better. 😰
Major Support Levels 🛡️
$2.10 and $2.00. Let’s hope XRP can hold onto these levels and avoid another decline. 🙏
Major Resistance Levels 🛡️
$2.40 and $2.50. These levels are like the bouncers at a nightclub, trying to keep XRP’s price from going any higher. 😎
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2025-02-03 07:19