XRP Price Steadies Above Support, Break Higher Or Fade Again?
$XRP #BitcoinGoogleSearchesSurge
#CZAMAonBinanceSquare XRP price failed to surpass $1.50 and started another decline. The price is now correcting gains and might find strong bids near $1.340.
XRP price started a downside correction and declined below $1.420.
The price is now trading below $1.40 and the 100-hourly Simple Moving Average.
There is a declining channel forming with resistance at $1.4050 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could start another increase if it stays above $1.3320.
XRP Price Holds Support
XRP price failed to stay above $1.50 and started a downside correction, like Bitcoin and Ethereum. The price dipped below the $1.450 and $1.420 levels to enter a negative zone.
The price even dipped below the 38.2% Fib retracement level of the upward move from the $1.1356 swing low to the $1.5435 high. However, the bulls remained active near the $1.340 zone. Besides, there is a declining channel forming with resistance at $1.4050 on the hourly chart of the XRP/USD pair.
The price is now trading below $1.40 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.40 level. The first major resistance is near the $1.4050 level, above which the price could rise and test $1.4650.
A clear move above the $1.4650 resistance might send the price toward the $1.50 resistance. Any more gains might send the price toward the $1.5250 resistance. The next major hurdle for the bulls might be near $1.550.