CandleFocus XRP Price Coiling for a Leap: Can It Finally Break Through?
2024-10-09
Author: Content Editor
The XRP price is currently stuck in a narrow range below $0.550. To initiate a fresh increase, the price must break through resistance levels at $0.5450 and $0.5500. XRP has remained supported above $0.5080 and is experiencing a consolidation phase unlike Bitcoin and Ethereum. There has been a minor increase, climbing above the $0.5250 resistance, but facing resistance from bears near the 50% Fib retracement level. The price is currently trading near $0.5320 and the 100-hourly Simple Moving Average. If the price continues to increase, it may face resistance at $0.5340, with major resistance levels at $0.5460 and $0.5550. Failure to break through resistance could result in a decline, with initial support at $0.5200 and $0.5165.
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