Ah, the tale of XRP! Once perched proudly at $1.950, it now languishes near $1.750, as if it were a nobleman fallen from grace. The price, dear reader, is now engaged in a most pitiful consolidation, grappling with the formidable $1.90 resistance like a peasant trying to scale the walls of a castle.
- XRP, in its infinite wisdom, has descended below the $1.880 and $1.850 levels, as if it were a court jester tripping over its own feet.
- It now trades below $1.850 and the 100-hourly Simple Moving Average, a most unflattering position indeed.
- A bearish trend line, as menacing as a villain in a Molière play, has formed with resistance at $1.90 on the hourly chart of the XRP/USD pair (data courtesy of Kraken).
- Should it fail to conquer the $1.90 resistance, the price may tumble further, much like a tragic hero in the final act.
XRP, much like its cousins Bitcoin and Ethereum, has failed to maintain its position above the $2.00 level. It has since descended below the $1.880 and $1.850 support levels, as if it were a nobleman stripped of his titles.
There was a brief moment of hope when the price rose above the $1.720 and $1.700 levels, but alas, it soon fell below $1.650, reaching a low of $1.610. Recently, it has corrected some losses, rising above $1.820 and $1.850, and even clearing the 50% Fib retracement level of the downward move from the $2.168 swing high to the $1.610 low.
However, the bears, those dastardly creatures, were active near the $1.950 resistance and the 61.8% Fib retracement level of the downward move from the $2.168 swing high to the $1.610 low. A connecting bearish trend line, as stubborn as a mule, has formed with resistance at $1.90 on the hourly chart of the XRP/USD pair.
The price now trades below $1.850 and the 100-hourly Simple Moving Average. On the upside, it may face resistance near the $1.850 level, with the first major resistance near $1.880.
The next resistance is $1.90. A clear move above this level might send the price toward the $2.00 resistance. Any further gains could propel it toward the $2.050 resistance or even $2.0650 in the near term. The next major hurdle for the bulls might be $2.120.
If XRP fails to clear the $1.90 resistance zone, it could start another decline. Initial support on the downside is near the $1.750 level, with the next major support near $1.70.
Should there be a downside break and a close below the $1.70 level, the price might continue to decline toward the $1.650 support. The next major support sits near the $1.60 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone, much like a villain plotting his next move.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level, as if it were a hero losing his strength.
Major Support Levels – $1.750 and $1.70.
Major Resistance Levels – $1.850 and $1.90.
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2025-04-09 07:23