CandleFocus XRP Price Gains Fade Once Again: Will Support Hold?
2024-11-08
Author: Content Editor
The XRP price gained momentum and moved above the $0.5500 support zone before facing resistance at $0.5780. The price then corrected lower and dipped below the $0.5650 support level. However, it found support above $0.5320 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $0.5360. On the upside, the price could face resistance near $0.5600 and $0.5650. If it fails to clear these levels, it might continue to decline towards the $0.5250 support. The technical indicators suggest a loss of bullish momentum, with the MACD losing pace in the bullish zone and the RSI below 50. Major support levels are at $0.5450 and $0.5360, while major resistance levels are at $0.5600 and $0.5650.
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