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As $XRP Bears Push, Indicators Point to More Losses
From the $0.5050 barrier zone, XRP fell again. A closing below $0.4865 might lower the price.
XRP lost further and fell below $0.500.
The price is below $0.4950 and the 100-hour SMA.
The hourly XRP/USD chart shows a negative trend line with resistance around $0.4980 (Kraken).
The pair may fall below $0.4550 soon.
XRP Drops Below $0.50
Recently, XRP tried a rebound over $0.5050. But bears took over and the price fell below $0.500, like Ethereum and Bitcoin.
It fell below $0.4920 and $0.4880. Price is consolidating losses after a low of $0.4867. It is around the 23.6% Fib retracement of the $0.5085 swing high to $0.4867 low decline.
The price is below $0.4950 and the 100-hour SMA. Resistance around $0.4980 is immediate. On the hourly XRP/USD chart, a negative trend line with resistance at $0.4980 is formed. The 50% Fib retracement level of the decline from the $0.5085 swing high to the $0.4867 low is approaching.
Near $0.500 is the first hurdle. Close over $0.500 barrier might start a significant surge. The 100-hourly Simple Moving Average and $0.5085 are next barrier. Bulls may surge toward $0.5250 if they stay above $0.5085. More advances might push price toward $0.550 barrier.
More Losses?
Failure to break the $0.50 resistance zone might cause XRP to fall again. Initial negative support is $0.4865.
The next significant support is $0.4780. If the price breaks down and closes below $0.4780, it may accelerate downward. In this instance, the price may test $0.450.
Tech Indicators
The hourly MACD for XRP/USD is moving bearishly.
Relative Strength Index hourly XRP/USD RSI is below 50.
Key Support Levels: $0.4865, $0.4780.
Major resistance levels: $0.500, $0.5085.
