CandleFocus XRP Price Falls Below Support, Bearish Momentum Builds
2024-09-16
Author: Content Editor
The XRP price has started to decline from the $0.5980 zone and is gaining bearish momentum. It may drop below the $0.5500 support zone. The bulls attempted to clear the $0.600 resistance level but failed. There was a break below a key bullish trend line and the price is now trading below the 100-hourly Simple Moving Average. The first major resistance lies near $0.580, followed by $0.5850 and $0.600. On the downside, initial support is at $0.5550, followed by $0.5420. The technical indicators show that the MACD is in the bearish zone and the RSI is below 50.
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