In a plot twist worthy of a particularly dull soap opera, XRP has decided to embark on a fresh recovery wave from the $1.90 zone. Yes, you heard that right! The price is now showing signs of life, as if it just remembered where it left its keys, and might just clear the $2.250 resistance zone. Or not. Who knows?
- XRP price, in a dramatic turn of events, started a fresh decline from the $2.200 resistance zone. Because why not?
- Currently, it’s trading below $2.1850 and the 100-hourly Simple Moving Average, which sounds very important, doesn’t it?
- There’s a short-term rising channel forming, with resistance at $2.250 on the hourly chart of the XRP/USD pair (data source from Kraken, because they’re the cool kids on the block).
- If the pair manages to clear the $2.250 resistance zone, it might just continue its upward journey. Or it might decide to take a nap. Who can say?
XRP Price Dips Further
In a classic case of “Oops, I did it again,” XRP price started a fresh decline after failing to clear the $2.20 zone, joining the ranks of Bitcoin and Ethereum in their collective misery. The price dipped below the $2.120 and $2.050 support levels, because apparently, gravity is a thing.
The bears, those lovable scamps, even pushed the price below $2.00. A low was formed at $1.90, and then, in a surprising twist, the price decided to start a decent upward move. It even managed to surpass the 50% Fib retracement level of the downward wave from the $2.365 swing high to the $1.90 low. Bravo!
Now, it’s trading below $2.1850 and the 100-hourly Simple Moving Average, which is still a thing. On the upside, it might face resistance near the $2.250 level, which is like a bouncer at a club saying, “Not tonight, buddy.”
The 76.4% Fib retracement level of the downward wave from the $2.365 swing high to the $1.90 low is also lurking near the $2.250 level, just waiting to rain on XRP’s parade. The first major resistance is near the $2.350 level, because why not throw in a few more hurdles?
The next resistance is $2.420. A clear move above this might send the price toward the $2.450 resistance. Any more gains could catapult it toward the $2.50 resistance or even $2.550 in the near term. The next major hurdle for the bulls might be $2.650, which is basically the Everest of resistance levels.
Another Decline?
If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.150 level, which is just a fancy way of saying “hold on tight.”
If there’s a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone, which is starting to feel like a familiar place.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone, which sounds ominous.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level, which is like getting a gold star for effort.
Major Support Levels – $2.120 and $2.050, because we all need a safety net.
Major Resistance Levels – $2.250 and $2.350, the ultimate party poopers.
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2025-03-12 10:18