CandleFocus XRP Price Revisits Key Level: Will The Bulls Return?
2024-12-05
Author: Content Editor
The XRP price has experienced a downside correction below the $2.50 support level. It is currently consolidating around $2.20 and may attempt to increase above the $2.45 level. Despite an unsuccessful attempt to surpass the $2.70 resistance, the price has corrected some gains. It dropped below the $2.50 and $2.40 levels, reaching a low of $2.166 before starting to recover. The price is currently trading below $2.50 and the 100-hourly Simple Moving Average and may face resistance near the $2.40 level. The major resistance levels are $2.50 and $2.550, with the next hurdle being at $3.00. If the price fails to clear the $2.50 resistance, it could decline with initial support near $2.25 and the next major support near $2.20. If there is a downside break below $2.20, the price may continue to decline towards the $2.05 support. The technical indicators show the MACD losing pace in the bullish zone and the RSI below the 50 level.
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