{"id":1868,"date":"2024-12-19T05:11:06","date_gmt":"2024-12-19T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/xrp-price-drops-to-crucial-support-can-it-stage-a-turnaround\/"},"modified":"2024-12-19T05:11:06","modified_gmt":"2024-12-19T05:11:06","slug":"xrp-price-drops-to-crucial-support-can-it-stage-a-turnaround","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/xrp-price-drops-to-crucial-support-can-it-stage-a-turnaround\/","title":{"rendered":"XRP Price Drops to Crucial Support: Can It Stage a Turnaround?"},"content":{"rendered":"<p><em>XRP price started a fresh decline below the $2.350 zone. The price retested the $2.20 support zone and is currently attempting a recovery wave.<\/em><\/p>\n<ul>\n<li>XRP price started a fresh decline from the $2.720 zone.<\/li>\n<li>The price is now trading below $2.50 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair might start another increase if it clears the $2.40 resistance.<\/li>\n<\/ul>\n<h2>XRP Price Dives To $2.20<\/h2>\n<p>XRP price failed to start a fresh increase above the $2.50 level and started a fresh decline, like Bitcoin and Ethereum. There was a move below the $2.45 and $2.40 levels.<\/p>\n<p>The price declined over 5% and there was a move below the $2.320 support. Finally, the price spiked below the $2.20 support. A low was formed at $2.171 and the price is now correcting losses. There was a move above the $2.250 level.<\/p>\n<p>The price cleared the 23.6% Fib retracement level of the downward move from the $2.720 swing high to the $2.171 low. The price is now trading below $2.50 and the 100-hourly Simple Moving Average.<\/p>\n<p>On the upside, the price might face resistance near the $2.40 level. The first major resistance is near the $2.450 level. There is also a connecting bearish trend line forming with resistance at $2.45 on the hourly chart of the XRP\/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $2.720 swing high to the $2.171 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-664799\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/XRP_Price_7207e4.png?resize=1024%2C478\" alt=\"XRP Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The next resistance is $2.50. A clear move above the $2.50 resistance might send the price toward the $2.55 resistance. Any more gains might send the price toward the $2.620 resistance or even $2.80 in the near term. The next major hurdle for the bulls might be $3.00.<\/p>\n<h2>Are Dips Supported?<\/h2>\n<p>If XRP fails to clear the $2.40 resistance zone, it could start another decline. Initial support on the downside is near the $2.25 level. The next major support is near the $2.20 level.<\/p>\n<p>If there is a downside break and a close below the $2.20 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $2.20 and $2.050.<\/p>\n<p>Major Resistance Levels \u2013 $2.40 and $2.450.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP price started a fresh decline below the $2.350 zone. The price retested the $2.20 support zone and is currently attempting a recovery wave. XRP price started a fresh decline from the $2.720 zone. The price is now trading below $2.50 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[149],"tags":[151,150,152,153,154],"class_list":["post-1868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-ripple","tag-xrp","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1868"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1869"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}