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XRP price started a fresh decline below the $2.450 and $2.350 support levels. The price is now consolidating losses and remains at risk of more losses. XRP price started a fresh decline below the $2.350 level. The price is now trading below $2.320 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.250 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 $2.3350 resistance zone. XRP Price Fails To Recover XRP price failed to continue higher above the $2.50 resistance zone and started a fresh decline, like Bitcoin and Ethereum . There was a move below the $2.35 and $2.250 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 attempted a recovery wave. There was a spike above the 50% Fib retracement level of the downward wave from the $2.604 swing high to the $2.206 low. However, the bears remained active at $2.350. There is also a key bearish trend line forming with resistance at $2.250 on the hourly chart of the XRP/USD pair. The price is now trading below $2.30 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.250 level. The first major resistance is near the $2.3250 level. The next resistance is $2.40 or the 61.8% Fib retracement level of the downward wave from the $2.604 swing high to the $2.206 low. A clear move above the $2.40 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. More Losses? If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.1480 level. The next major support is near the $2.120 level. If there is a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.1480 and $2.120. Major Resistance Levels – $2.250 and $2.3250.
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Source: NewsBTC
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XRP Ripple XRPBTC XRPUSD xrpusdt
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Ethereum Price Dips Deeper—Is a Rebound Possible?
Ethereum price started a fresh decline from the $2,450 resistance zone. ETH is now consolidating losses and might face hurdles near $2,400 and $2,450. Ethereum is facing an increase in selling below the $2,450 zone. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,390 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if it settles above $2,400 and $2,500. Ethereum Price Extends Losses Ethereum price failed to clear the $2,550 resistance zone and started a fresh decline, like Bitcoin . ETH gained pace below the $2,500 and $2,450 support levels to move further in a bearish zone. The price declined over 5% and even traded below the $2,320 support zone. A low was formed at $2,251 and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the $2,519 swing high to the $2,251 low. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average . There is also a connecting bearish trend line forming with resistance at $2,390 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,380 level or the 50% Fib retracement level of the downward move from the $2,519 swing high to the $2,251 low. The first major resistance is near the $2,420 level. The main resistance is now forming near $2,450. A clear move above the $2,450 resistance might send the price toward the $2,500 resistance. An upside break above the $2,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,620 in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,500 resistance, it could start another decline. Initial support on the downside is near the $2,315 level. The first major support sits near the $2,250 zone. A clear move below the $2,250 support might push the price toward the $2,200 support. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,250 Major Resistance Level – $2,500 NewsBTC
