{"id":35634,"date":"2024-01-31T11:52:35","date_gmt":"2024-01-31T15:52:35","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35634"},"modified":"2024-01-31T11:52:35","modified_gmt":"2024-01-31T15:52:35","slug":"xrp-price-turns-red-as-risk-of-more-downsides-escalate","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/31\/xrp-price-turns-red-as-risk-of-more-downsides-escalate\/","title":{"rendered":"XRP Price Turns Red As Risk of More Downsides Escalate"},"content":{"rendered":"

XRP price is moving lower below the $0.5200 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 $0.512 resistance levels.
\nThe price is now trading below $0.520 and the 100 simple moving average (4 hours).
\nThere was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP\/USD pair (data source from Kraken).
\nThe pair is now at risk of more downsides below the $0.5000 support zone.<\/p>\n

XRP Price Takes Hit<\/h2>\n

In the past few days, XRP price heavy bearish moves below the $0.550 support. The bears remained active near the $0.5500 resistance and protected a recovery wave, unlike Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a fresh decline from the $0.5389 high and the bears pushed the price below $0.5200. There was a steady decline and there was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP\/USD pair.<\/p>\n

The price is now trading below $0.520 and the 100 simple moving average (4 hours). A low is formed near $0.5012, and the price is now consolidating losses. On the upside, immediate resistance is near the $0.520 zone. It is near the 50% Fib retracement level of the downward wave from the $0.5389 swing high to the $0.5012 low.<\/p>\n

The first key resistance is near $0.530 or the 76.4% Fib retracement level of the downward wave from the $0.5389 swing high to the $0.5012 low, above which the price could rise toward the $0.5380 resistance.<\/p>\n

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

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

A close above the $0.5380 resistance zone could spark a strong increase. The next key resistance is near $0.5550. If the bulls remain in action above the $0.5550 resistance level, there could be a rally toward the $0.5800 resistance. Any more gains might send the price toward the $0.6000 resistance.<\/p>\n

Key Downside Break?<\/h2>\n

If XRP fails to clear the $0.5200 resistance zone, it could continue to move down. Initial support on the downside is near the $0.502 zone.<\/p>\n

The next major support is at $0.500. If there is a downside break and a close below the $0.500 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 gaining 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 $0.505, $0.500, and $0.450.<\/p>\n

Major Resistance Levels \u2013 $0.520, $0.538, and $0.550.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

XRP price is moving lower below the $0.5200 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 $0.512 resistance levels.
\nThe price is now trading below $0.520 and the 100 simple moving average (4 hours).
\nThere was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP\/USD pair (data source from Kraken).
\nThe pair is now at risk of more downsides below the $0.5000 support zone.<\/p>\n

XRP Price Takes Hit<\/h2>\n

In the past few days, XRP price heavy bearish moves below the $0.550 support. The bears remained active near the $0.5500 resistance and protected a recovery wave, unlike Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a fresh decline from the $0.5389 high and the bears pushed the price below $0.5200. There was a steady decline and there was a break below a key contracting triangle with support at $0.5220 on the 4-hour chart of the XRP\/USD pair.<\/p>\n

The price is now trading below $0.520 and the 100 simple moving average (4 hours). A low is formed near $0.5012, and the price is now consolidating losses. On the upside, immediate resistance is near the $0.520 zone. It is near the 50% Fib retracement level of the downward wave from the $0.5389 swing high to the $0.5012 low.<\/p>\n

The first key resistance is near $0.530 or the 76.4% Fib retracement level of the downward wave from the $0.5389 swing high to the $0.5012 low, above which the price could rise toward the $0.5380 resistance.<\/p>\n

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

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

A close above the $0.5380 resistance zone could spark a strong increase. The next key resistance is near $0.5550. If the bulls remain in action above the $0.5550 resistance level, there could be a rally toward the $0.5800 resistance. Any more gains might send the price toward the $0.6000 resistance.<\/p>\n

Key Downside Break?<\/h2>\n

If XRP fails to clear the $0.5200 resistance zone, it could continue to move down. Initial support on the downside is near the $0.502 zone.<\/p>\n

The next major support is at $0.500. If there is a downside break and a close below the $0.500 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 gaining 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 $0.505, $0.500, and $0.450.<\/p>\n

Major Resistance Levels \u2013 $0.520, $0.538, and $0.550.<\/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-35634","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\/35634","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=35634"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35634\/revisions"}],"predecessor-version":[{"id":35643,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35634\/revisions\/35643"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35634"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}