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XRP Price Holds Ground at $0.50: Can Bulls Push for a Comeback?

September 9, 2024Updated:September 9, 2024No Comments3 Mins Read
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XRP worth managed to remain above the $0.5000 stage. The value is rebounding and should clear the $0.5480 resistance stage to begin a good enhance.

  • XRP worth is struggling to achieve tempo for a transfer above the $0.5350 zone.
  • The value is now buying and selling beneath $0.5320 and the 100-hourly Easy Shifting Common.
  • There was a break above a key bearish pattern line with resistance at $0.5280 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The pair may decline once more if it fails to clear $0.5320 and $0.5480.

XRP Worth Faces Resistance

XRP worth prolonged losses beneath $0.5350 like Bitcoin and Ethereum. There was a contemporary decline, and the value retested the $0.5020 help zone. A low was fashioned at $0.5021 and the value is now trying a restoration wave.

There was a minor enhance above the $0.520 stage. The value surpassed the 23.6% Fib retracement stage of the downward transfer from the $0.5626 swing excessive to the $0.5021 low. There was a break above a key bearish pattern line with resistance at $0.5280 on the hourly chart of the XRP/USD pair.

Nonetheless, the bears appear to be energetic close to the $0.5320 and $0.5350 ranges. The value is now buying and selling beneath $0.5350 and the 100-hourly Easy Shifting Common. On the upside, the value may face resistance close to the $0.5320 stage.

The primary main resistance is close to the $0.5480 stage or the 76.4% Fib retracement stage of the downward transfer from the $0.5626 swing excessive to the $0.5021 low. The following key resistance might be $0.5550. A transparent transfer above the $0.5550 resistance may ship the value towards the $0.5620 resistance.

XRP Price Holds Ground at alt=

The following main resistance is close to the $0.5750 stage. Any extra good points may ship the value towards the $0.5880 resistance and even $0.600 within the close to time period.

One other Decline?

If XRP fails to clear the $0.5320 resistance zone, it may begin one other decline. Preliminary help on the draw back is close to the $0.5220 stage. The following main help is $0.5200.

If there’s a draw back break and an in depth beneath the $0.5200 stage, the value may proceed to say no towards the $0.5120 help within the close to time period. The following main help sits at $0.5020.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now dropping tempo within the bearish zone.

Hourly RSI (Relative Power Index) – The RSI for XRP/USD is now above the 50 stage.

Main Help Ranges – $0.5200 and $0.5120.

Main Resistance Ranges – $0.5320 and $0.5480.



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Bulls Comeback Ground holds Price Push XRP
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