• Sun. Jul 21st, 2024

Ripple (XRP) Holds Ground as Bitcoin and Ethereum Slide; Watch This Breakout Zone

Nov 22, 2022
  • XRP kick-started another fall from the resistance of $0.40.
  • Ripple hovered beneath $0.38 & 100 4Hr Simple Moving Average.
  • A notable bearish trend is forming on the 4hr chart with an obstacle at around $0.371 (Kraken stats).
  • Overpowering the hurdle at $0.388 can translate to massive uptrends for the altcoin.

The remittance coin Ripple (XRP) could not conquer the $0.40 obstacle. Nevertheless, maintaining its price actions beyond the $0.345 foothold can welcome descent price surges for XRP. Is that easier debated that achieved?

XRP Price Still Supported

The last week has seen Ripple (XRP) attempting an upward break beyond the hurdle of $0.40. nevertheless, bearish tendencies persisted near $0.40, dragging prices lower. Nevertheless, the latest fall remained contained compared to BTC and ETH.

XRP witnessed its price losing the support floor at $0.372 & $0.365. The remittance coin explored the $0.3458 before consolidating its losses (at the moment). Furthermore, Ripple trades beneath $0.380 & the 100 4hr SMA.

The alt faces challenges near the $0.370 region. The resistance stands close to the 0.50 Fibonacci retracement zone of the drop from $0.3954 to $0.3458. Also, the four-hour chart shows XRP/USD printing a bearish trend line with $0.371 as a hurdle.

A successful move beyond the trend-line resistance could see the price heading towards the resistance of $0.380 or the 0.764 Fibonacci retracement mark of the slump to $0.348 from $0.3954. Another challenge would appear near $0.388. Meanwhile, the primary resistance remains at $0.40. further surges may send the alternative token towards $0.45.

Are dips Possible in XRP?

XRP can experience gradual declines if it fails to conquer the resistance of $0.388. The first support upon downward movements stands at $0.345. Stretched declines will mean a fall to the massive support at $0.332. A break and closing beneath $0.332 might lead to extended plummets for Ripple. Such price actions would open the road to $0.320.

XRP Technical Indicators

  • 4Hr Moving Average Convergence Divergence is losing strength in the bearish area.
  • 4Hr Relative Strength Index remains beneath 50.
  • Massive support zones – $0.345, $0.332 & $0.320.
  • Crucial resistance zones – $0.371, $0.388 & $0.400.

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