As if it were a delicate flower rising from the ashes, XRP price has embarked on a tentative recovery, now above the grand threshold of $2.40. Yet, alas! It faces the ominous resistance near $2.5350 and teeters on the brink of a potential decline. A drama in the making, no doubt.
- XRP’s price retreats from the lofty heights of $2.5350.
- Yet, it lingers above $2.40, accompanied by the comforting embrace of the 100-hourly Simple Moving Average. A rather quaint scene.
- A bullish trend line has started to appear, modestly supporting at $2.420 on the hourly chart of the XRP/USD pair, thanks to the data gods at Kraken.
- If fortune favors the brave, the pair may break free and surge past the $2.5350 resistance.
The Great Resistance Conundrum
Much like a hero’s journey, XRP’s price has built itself a sturdy foundation above $2.20 and ventured forth on a recovery wave, in the company of Bitcoin and Ethereum. With a flourish, it surpassed the resistance at $2.350 and $2.40.
The bulls were triumphant, pushing the price above $2.50, marking the 50% Fib retracement level of the downward move from $2.647 to $2.190. However, the ever-present bears stepped in, sending a sharp reminder of their dominance at the $2.5350 level. Alas, no further gains were to be had.
As the saga continues, the price has failed to breach the 76.4% Fib retracement level of the downward move, finding itself once more below $2.50. Yet, all is not lost! The price still remains above $2.40, and there, the 100-hourly Simple Moving Average offers a semblance of support. A connecting bullish trend line is also forming at $2.420 on the hourly chart-how quaint.
If the winds of fortune blow favorably, the price may yet rise, but not without first confronting resistance near $2.480. The first significant hurdle, $2.50, stands between it and the potential to test $2.5350.
Should XRP manage to clear the $2.5350 resistance with great fanfare, the next stop could be the $2.580 level. Any further momentum might carry it toward the $2.650 resistance. And, as if scripted in the stars, the bulls’ next major obstacle is likely to be $2.720.
The Fall, Perhaps?
But fear not, dear reader, for if XRP fails to conquer the $2.50 resistance zone, a fresh descent may begin. Initial support can be found near the $2.420 level. Should this level falter, the price may take a gloomy turn toward the $2.40 level.
If the dreaded downside break occurs, and XRP closes below $2.40, the decline may continue, with $2.350 being the first notable stop. Below that, the abyss deepens with $2.320, and the tragic descent toward $2.250 may be in the cards.
Technical Indicators, or How the Market Tells Its Tales:
Hourly MACD – The MACD for XRP/USD is gaining strength in the bearish realm. How delightful.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD lies below the 50 mark, not a promising sign for our dear asset.
Major Support Levels – $2.420 and $2.40, should one require refuge from the storm.
Major Resistance Levels – $2.50 and $2.5350, ever looming like a mountain peak.
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2025-10-21 08:24