XRP Breaks Four-Month Support Zone, Signals Bearish Trend
- Support Level Breached: XRP has fallen below the $1.26 to $1.28 support zone for the first time in four months, causing investor sentiment to shake, with a sharp drop of over 6% in the past 24 hours, currently trading between $1.16 and $1.18, indicating weakened confidence in the cryptocurrency.
- Technical Indicators Show Weakness: XRP is currently trading below all major moving averages, including the 10-day exponential average at $1.27, the 50-day average at $1.36, and the 200-day average at $1.60, with analysts stating that a reversal would require reclaiming the $1.30 mark with strong trading volume.
- Downside Targets Shift: Analyst Crypto Patel noted that if the $1.10 to $1.30 range is lost, XRP could further decline to the $0.85 to $0.65 range, reflecting a pessimistic outlook for future prices.
- Oversold Signals Emerge: The 14-period Relative Strength Index (RSI) has dropped to 24.26, falling below the critical threshold of 30, indicating that XRP has entered oversold territory; however, analysts have yet to see clear signs of recovery, suggesting ongoing market pressure.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.838 | 0.964 | 1.114 | 1.24 | 1.39 | 1.516 | 1.666 |
| Fibonacci | 0.964 | 1.07 | 1.135 | 1.24 | 1.346 | 1.411 | 1.516 |
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