Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/analysis/xrp/xrp-price-nears-key-support-2-50/amp/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

XRP Price Nears Key Support—A Breakdown Could Be Devastating

XRP Price Nears Key Support—A Breakdown Could Be Devastating

XRP Price Signals Downside Correction

XRP Price Signals Downside Correction

XRP price is struggling to clear the $2.60 and $2.70 levels. The price is now at a risk of more downsides below the $2.50 support zone.

XRP Price Dips To Support

XRP price attempted to gain pace for a move above the $2.750 level. However, the bears remained active and the price started a fresh decline below the $2.650 support, like Bitcoin.

The price even dipped  below $2.60 and tested the $2.50 support. A low was formed at $2.508 and the price is now attempting to recover. There was a move above the 23.6% Fib retracement level of the downward wave from the $2.7450 swing high to the $2.508 low.

The price is now trading below $2.60 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.5650 level. There is also a connecting bearish trend line forming with resistance at $2.5650 on the hourly chart of the XRP/USD pair.

The first major resistance is near the $2.60 level. The next resistance is $2.620 or the 50% Fib retracement level of the downward wave from the $2.7450 swing high to the $2.508 low.

Source: XRPUSD on TradingView.com

A clear move above the $2.620 resistance might send the price toward the $2.650 resistance. Any more gains might send the price toward the $2.720 resistance or even $2.750 in the near term. The next major hurdle for the bulls might be $2.850.

More Losses?

If XRP fails to clear the $2.60 resistance zone, it could start another decline. Initial support on the downside is near the $2.520 level. The next major support is near the $2.50 level.

If there is a downside break and a close below the $2.50 level, the price might continue to decline toward the $2.40 support. The next major support sits near the $2.320 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.520 and $2.50.

Major Resistance Levels – $2.60 and $2.620.

Exit mobile version