XRP Price Analysis: XRP/USD Remains Under Pressure Despite Being Firm
- 王林Original
- 2024-07-16 01:44:50961browse
XRP is holding on tightly when writing, waiting on the formation within the day by day chart. After latest losses, patrons have been resilient this week
XRP price analysis for April 24 reveals a downtrend as the coin is trading below a crucial resistance level. Further losses are anticipated today if the bears maintain the price below $0.46. On the other hand, if the bulls manage to push the price above $0.50, we can expect a bullish trend to begin.
XRP/USD 1 Day Chart Technical Analysis
Chart key levels: Resistance: $0.46, $0.50, $0.55; Support: $0.40
The coin is trading in the red as it opened today with a 0.46% decrease in price. XRP price analysis reveals a downtrend as the bears are trying to keep the price below a crucial resistance level at $0.46. Further losses are anticipated today if the bears maintain this level. On the other hand, if the bulls manage to push the price above $0.50, we can expect a bullish trend to begin.
The downtrend began last week after XRP encountered a strong resistance at $0.55. The coin price dropped sharply, losing over 10% in a few days. The bears are now trying to keep the price below $0.46, which is acting as a strong support level. If the bears succeed in keeping the price below this level, we can expect further losses in the coming days.
However, if the bulls manage to push the price above $0.50, the downtrend will be broken and we can expect a bullish trend to begin. The first resistance level on the upside is at $0.52, followed by $0.55 and $0.60.
The technical indicator Relative Strength Index (RSI) is currently at 45.43, indicating that the coin is in the neutral zone. The Moving Average Convergence Divergence (MACD) is also bearish, indicating that the bears are in control of the price movement.
Overall, the XRP price analysis is bearish today. Further losses are anticipated today if the bears maintain the price below $0.46. On the other hand, if the bulls manage to push the price above $0.50, we can expect a bullish trend to begin.
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