CandleFocus XRP Price Flashes Bearish Signals: Are More Losses Coming?
2024-10-23
Author: Content Editor
The XRP price is currently moving lower below the $0.5500 level and may face further downside if it closes below the $0.5200 support zone. The price struggled to extend gains above the $0.5600 level and has since experienced a downside correction. It is currently trading below the 100-hourly Simple Moving Average and has formed a new bearish trend line with resistance at $0.5365. The first major resistance level is near $0.5440, followed by $0.5520. On the downside, initial support levels are at $0.5280 and $0.5220, with the possibility of further decline towards the $0.5050 support. The MACD indicator is in the bearish zone, and the RSI is below the 50 level.
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