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Jakarta, Pintu News – Ripple’s XRP->Current XRP PriceRp 0Market Cap-Trading Volume-Circulating Supply- price recovery has started by breaking through the $2.250 zone. Currently, the price is consolidating and may break the $2.4650 resistance zone.
Ripple (XRP) price found strong support and started a recovery wave above the $2.20 zone, following the footsteps of Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- and Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply-. The price managed to cross the $2.250 and $2.320 resistance levels.
Market participants were able to push the price past the 23.6% Fibonacci retracement level of the decline from the high of $2.581 to the low of $2.354. In addition, there was also a break above the bearish trend line with resistance at $2.40 on the hourly chart of the Ripple (XRP)/USD pair.
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Currently, the price is trading above $2,320 and the 100-hour Simple Moving Average (SMA). On the upside, the price may face resistance near the $2,450 level. The first major resistance is near the $2.4650 level or the 50% Fibonacci retracement level of the decline from the $2.581 high to $2.354 low. The next resistance is $2.50.
If the price manages to break the $2.50 resistance, it could push the price towards $2.550. A further rise could take the price towards $2.650 or even $2.6650 in the short term. The next big hurdle for the buyers could be $2.80.
If Ripple (XRP) fails to break the $2.4650 resistance zone, the price could drop again. Initial support on the downside is near the $2,400 level and the trend line. The next major support is near the $2,350 level. In case of a downward breakout and close below the $2,350 level, the price may continue to drop towards the $2,320 support. The next major support lies in the $2,250 zone.
The hourly Moving Average Convergence Divergence (MACD) for Ripple (XRP)/USD is currently showing acceleration in the bullish zone. The hourly Relative Strength Index (RSI) for Ripple (XRP)/USD is now above the 50 level. This suggests that more positive momentum is possible.
With strong support and favorable technical indicators, Ripple (XRP) may be poised to continue its rise. However, it is important to pay attention to the resistance and support levels that have been identified in anticipation of the next price movement.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
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