BlockchainRipple Price Analysis: Is the XRP Price Dip a...

Ripple Price Analysis: Is the XRP Price Dip a Buying Opportunity?

The XRP price recently surged and tested the $0.4880 resistance zone. While it’s correcting gains, the bulls are holding the $0.4765 support level.

XRP Price Analysis

XRP saw an increase, unlike Bitcoin and Ethereum, pushing above the $0.4840 mark. However, it faced resistance near $0.4880, and the price started to pull back. Despite this, it’s trading above $0.4750 and the 100-hourly Simple Moving Average (SMA).

Also Read: Apply Now for the XRPL Japan and Korea Fund

Key Technical Points

  • Current Status: XRP corrected from $0.4880 and now hovers around $0.4765.
  • Support Level: $0.4765 is crucial, with the price staying above the 100-hourly SMA.
  • Resistance Levels: Immediate resistance at $0.4820, with significant resistance at $0.4880. A move past $0.4880 could push the price towards $0.50 and possibly $0.5050 or $0.5250.

Potential Downside

If XRP doesn’t surpass $0.4820, it may drop further. The primary support is at $0.4765, and a break below this could lead to a decline to $0.4650.

Also Read: Long-Dormant Bitcoin Wallet Springs to Life After 13 Years

Technical Indicators

  • MACD: The hourly MACD for XRP/USD is losing momentum in the bearish zone.
  • RSI: The hourly RSI for XRP/USD is below 50, indicating slight bearishness.
  • Support Levels: $0.4765 and $0.4740.
  • Resistance Levels: $0.4840 and $0.4880.

Conclusion

The current dip in XRP might be a buying opportunity, provided it holds above the key support level of $0.4765. Keep an eye on the $0.4880 resistance; breaking through it could signal further gains.

Must Read: Ancient Ethereum Whale Suddenly Moves 7,000 ETH

Florent Malice
Florent Malicehttps://www.newsalarms.com/
Florent is a passionate blockchain enthusiast, dedicated to exploring the intersection of technology and finance. With a focus on blockchain, web crypto, and NFTs, he contributes insightful analyses and updates to NewsAlarms, offering clarity on the evolving landscape of digital assets.

Latest news

Will the Ethereum ETF Push Prices to a $5,000 High?

CBOE Set to Introduce Five Spot Ethereum ETFs on July 23 The Ethereum ETF is making headlines again as the...

zkLink: The Gateway to Multi-Chain Integration with zk-Rollups

zkLink: Revolutionizing Blockchain Interoperability with Advanced zk-Rollups In the dynamic landscape of blockchain technology, zkLink is emerging as a revolutionary...

How to Start Trade Bitcoin: 3 Fast Profit Strategies for Beginners

Are you curious about diving into the world of Bitcoin trading but unsure where to start? You're not alone....

Discover Hamster Kombat Mini Game: What It Is and How to Play

Hamster Kombat Unveils Exciting Mini-Game for Its 239 Million Users Hamster Kombat, the popular tap-to-earn game boasting an impressive 239...

How to Make Money with Cryptocurrency Investments in 2024

If you want to learn how to make money investing in cryptocurrency, you're in the right place. We'll show...

Hamster Kombat Players Confront New Scams as Game Soars in Popularity

Beware of Fake Airdrops Targeting Hamster Kombat Players The popular mobile tap-to-earn game "Hamster Kombat" is currently facing a new...

Must read

Will the Ethereum ETF Push Prices to a $5,000 High?

CBOE Set to Introduce Five Spot Ethereum ETFs on...

zkLink: The Gateway to Multi-Chain Integration with zk-Rollups

zkLink: Revolutionizing Blockchain Interoperability with Advanced zk-Rollups In the dynamic...

How to Start Trade Bitcoin: 3 Fast Profit Strategies for Beginners

Are you curious about diving into the world of...

Discover Hamster Kombat Mini Game: What It Is and How to Play

Hamster Kombat Unveils Exciting Mini-Game for Its 239 Million...

How to Make Money with Cryptocurrency Investments in 2024

If you want to learn how to make money...

You might also like
Recommended to you