XRP price started a fresh decline from $2. 550. The price is now showing bearish signs and might extend losses if it dips below $2. 250. XRP price started a fresh decline below the $2. 450 zone. The price is now trading below $2. 40 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $2. 235 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if it settles below $2. 250. XRP Price Dips Further XRP price attempted more gains above $2. 50 but failed to continue higher, like Bitcoin and Ethereum. The price started a fresh decline below $2. 450 and $2. 420. There was a move below the $2. 320 pivot level. A low was formed at $2. 2754, and the price is now consolidating losses with a bearish angle below the 23. 6% Fib retracement level of the recent decline from the $2. 525 swing high to the $2. 2754 low. The price is now trading below $2. 40 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2. 2350 level. There is also a short-term contracting triangle forming with resistance at $2. 235 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2. 40 level, above which the price could rise and test $2. 450 or the 76. 4% Fib retracement level of the recent decline from the $2. 525 swing high to the $2. 2754 low. A clear move above the $2. 450 resistance might send the price toward the $2. 520 resistance. Any more gains might send the price toward the $2. 580 resistance. The next major hurdle for the bulls might be near $2. 650. Another Decline? If XRP fails to clear the $2. 40 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2. 280 level. The next major support is near the $2. 250 level. If there is a downside break and a close below the $2. 250 level, the price might continue to decline toward $2. 20. The next major support sits near the $2. 120 zone, below which the price could continue lower toward $2. 050. 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. 250 and $2. 20. Major Resistance Levels $2. 40 and $2. 450.
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The post Bitcoin Breaks Down Again Bearish Momentum Intensifies Across Crypto Market appeared com. Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through.
The post XRP Price Slips Again, Bears Tighten Grip As Momentum Turns Negative appeared com. Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through.