XRP’s Rollercoaster Ride: Will It Soar or Face Another Plummet?

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Ah, the price of XRP! It begins its journey anew, much like an eager debutante, rising from the $1.90 zone. However, as it struts towards the $2.10 mark, one must wonder—will it conquer the resistance, or shall it be thwarted in its bold pursuit?

  • Alas! XRP had once begun its descent from the $2.250 resistance zone.
  • It now finds itself trading below $2.20 and, heavens, beneath the 100-hourly Simple Moving Average!
  • Oh, but there is a confounded bearish trend line forming—its resistance at $2.06, clearly eager to prevent any further upward movement (according to the Kraken’s data, of course).
  • Still, with a bold heart and some luck, it may rise if it clears the $2.10 barrier.

The Dramatic Descent of XRP

Alas, dear XRP, your aspirations were dashed as you failed to conquer the noble $2.250 resistance zone, much like the ill-fated adventures of Bitcoin and Ethereum. The price, once high and mighty, now languishes below the $2.10 and $2.050 support levels.

The bears, no less merciless, pushed the price below the coveted $2.00 mark. A lowly figure of $1.90 was reached, and now, like a weary traveler, the price attempts a recovery. It has made its way past the $1.950 and $1.980 resistance levels and even surpassed the 23.6% Fib retracement level—quite an accomplishment, if I do say so!

But lo! It remains below $2.20 and the 100-hourly Simple Moving Average. The future is uncertain, with resistance looming near the $2.060 level. A bearish trend line continues to mock the poor soul, its resistance taunting at $2.06 on the hourly chart of the XRP/USD pair.

The first true resistance appears near $2.080, or dare I say, the 50% Fib retracement level from the once lofty $2.260 swing high to the pitiful $1.90 low. Beyond that, a formidable challenge awaits at $2.120. Should the price, in an unforeseen act of heroism, surpass the $2.120 level, it may advance towards $2.1750—oh, how glorious that would be! Any further triumph could see it reach $2.20 or even touch the once-esteemed $2.250. But I warn you, the next formidable hurdle sits at $2.450, awaiting to thwart any aspirations.

Yet Another Tragic Fall?

Should XRP fail to conquer the $2.080 resistance, I am afraid we may see another decline. The first line of defense lies at the $1.950 level, but the next major support looms at $1.90—truly a sight for sore eyes.

If, by some cruel twist of fate, the price falls below $1.850, we may see it tumble further toward the $1.80 support. And should that catastrophe occur, I shudder to think of the next major support at the unfortunate $1.750 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing momentum, stuck in the bearish zone, like a slow-moving carriage on a bumpy road.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD has sunk below the 50 mark, as though it were a poor relation attending a ball.

Major Support Levels – $1.950 and $1.900.

Major Resistance Levels – $2.080 and $2.1750.

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2025-03-11 08:16