{"id":35489,"date":"2024-01-26T05:52:44","date_gmt":"2024-01-26T09:52:44","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=35489"},"modified":"2024-01-26T05:52:44","modified_gmt":"2024-01-26T09:52:44","slug":"xrp-price-takes-hit-can-buyers-save-the-key-0-50-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/26\/xrp-price-takes-hit-can-buyers-save-the-key-0-50-support\/","title":{"rendered":"XRP Price Takes Hit, Can Buyers Save The Key $0.50 Support?"},"content":{"rendered":"

XRP price is consolidating above the $0.50 support. The price could gain bearish momentum if there is a close below the $0.50 support.<\/em><\/p>\n

XRP is showing bearish signs below the $0.525 and $0.550 resistance levels.
\nThe price is now trading below $0.525 and the 100 simple moving average (4 hours).
\nThere is a connecting bearish trend line forming with resistance near $0.520 on the 4-hour chart of the XRP\/USD pair (data source from Kraken).
\nThe pair start a fresh increase if it clears the $0.520 and $0.525 resistance levels.<\/p>\n

XRP Price Revisits Key Support<\/h2>\n

In the past few days, XRP price saw a fresh decline below the $0.550 support. The bears were able to push the price into a short-term bearish zone below $0.525, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even spiked below the $0.500 support. A low was formed near $0.4961, and the price is now consolidating losses. It is back above the $0.500 level and showing signs of a minor recovery wave. It is now trading below $0.525 and the 100 simple moving average (4 hours).<\/p>\n

On the upside, immediate resistance is near the $0.520 zone. There is also a connecting bearish trend line forming with resistance near $0.520 on the 4-hour chart of the XRP\/USD pair. The trend line is close to the 23.6% Fib retracement level of the downward wave from the $0.6240 swing high to the $0.4960 low.<\/p>\n

The first key resistance is near $0.532, above which the price could rise toward the $0.560 resistance. It is close to the 50% Fib retracement level of the downward wave from the $0.6240 swing high to the $0.4960 low.<\/p>\n

<\/a><\/p>\n

Source: XRPUSD on TradingView.com<\/a><\/p>\n

A close above the $0.560 resistance zone could spark a strong increase. The next key resistance is near $0.594. If the bulls remain in action above the $0.594 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.650 resistance.<\/p>\n

Another Drop?<\/h2>\n

If XRP fails to clear the $0.525 resistance zone, it could start a fresh decline. Initial support on the downside is near the $0.500 zone.<\/p>\n

The next major support is at $0.495. If there is a downside break and a close below the $0.495 level, XRP price might accelerate lower. In the stated case, the price could retest the $0.450 support zone.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.500, $0.495, and $0.450.<\/p>\n

Major Resistance Levels \u2013 $0.520, $0.525, and $0.560.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

XRP price is consolidating above the $0.50 support. The price could gain bearish momentum if there is a close below the $0.50 support.<\/em><\/p>\n

XRP is showing bearish signs below the $0.525 and $0.550 resistance levels.
\nThe price is now trading below $0.525 and the 100 simple moving average (4 hours).
\nThere is a connecting bearish trend line forming with resistance near $0.520 on the 4-hour chart of the XRP\/USD pair (data source from Kraken).
\nThe pair start a fresh increase if it clears the $0.520 and $0.525 resistance levels.<\/p>\n

XRP Price Revisits Key Support<\/h2>\n

In the past few days, XRP price saw a fresh decline below the $0.550 support. The bears were able to push the price into a short-term bearish zone below $0.525, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even spiked below the $0.500 support. A low was formed near $0.4961, and the price is now consolidating losses. It is back above the $0.500 level and showing signs of a minor recovery wave. It is now trading below $0.525 and the 100 simple moving average (4 hours).<\/p>\n

On the upside, immediate resistance is near the $0.520 zone. There is also a connecting bearish trend line forming with resistance near $0.520 on the 4-hour chart of the XRP\/USD pair. The trend line is close to the 23.6% Fib retracement level of the downward wave from the $0.6240 swing high to the $0.4960 low.<\/p>\n

The first key resistance is near $0.532, above which the price could rise toward the $0.560 resistance. It is close to the 50% Fib retracement level of the downward wave from the $0.6240 swing high to the $0.4960 low.<\/p>\n

<\/a><\/p>\n

Source: XRPUSD on TradingView.com<\/a><\/p>\n

A close above the $0.560 resistance zone could spark a strong increase. The next key resistance is near $0.594. If the bulls remain in action above the $0.594 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.650 resistance.<\/p>\n

Another Drop?<\/h2>\n

If XRP fails to clear the $0.525 resistance zone, it could start a fresh decline. Initial support on the downside is near the $0.500 zone.<\/p>\n

The next major support is at $0.495. If there is a downside break and a close below the $0.495 level, XRP price might accelerate lower. In the stated case, the price could retest the $0.450 support zone.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.500, $0.495, and $0.450.<\/p>\n

Major Resistance Levels \u2013 $0.520, $0.525, and $0.560.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35489","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35489"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35489\/revisions"}],"predecessor-version":[{"id":35498,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35489\/revisions\/35498"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35489"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}