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XRP Price Moves Higher—But Is This Just a Temporary Bounce?

XRP price started a fresh decline below the $2.50 and $2.250 support levels. The price is now recovering losses from the $2.050 support zone. XRP price started a fresh decline below the $2.40 level. The price is now trading below $2.40 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.450 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to move down unless there is a close above the $2.450 resistance zone. XRP Price Attempts Recovery XRP price failed to continue higher above the $2.620 resistance zone and started a fresh decline, like Bitcoin and Ethereum . There was a move below the $2.55 and $2.50 support levels. The price even dipped below the $2.20 support to enter a bearish zone. A low was formed at $2.0639 and the price is now attempting to recover. There was a move above the 23.6% Fib retracement level of the downward wave from the $2.604 swing high to the $2.206 low. The price is now trading below $2.40 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.3320 level. The first major resistance is near the $2.40 level or the 61.8% Fib retracement level of the downward wave from the $2.604 swing high to the $2.206 low. The next resistance is $2.450. There is also a key bearish trend line forming with resistance at $2.450 on the hourly chart of the XRP/USD pair. A clear move above the $2.450 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.550 resistance or even $2.5650 in the near term. The next major hurdle for the bulls might be $2.620. Another Decline? If XRP fails to clear the $2.450 resistance zone, it could start another decline. Initial support on the downside is near the $2.2320 level. The next major support is near the $2.20 level. If there is a downside break and a close below the $2.20 level, the price might continue to decline toward the $2.120 support. The next major support sits near the $2.050 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.2320 and $2.20. Major Resistance Levels – $2.40 and $2.450. CoinOtag

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Report: DOJ Opens Probe Into Libra Token Case

The DOJ has allegedly already opened an investigation regarding President Javier Milei’s role in the promotion of Libra and the involvement of the project’s founders, Kelsier Ventures’ Hayden Davis, KIP Protocol’s Julian Peh, and two Argentine entrepreneurs, in the scheme. DOJ Starts Libra Case Investigation Libra, the cryptocurrency project made famous by the endorsement of CoinOtag