Market analysts identify an unprecedented bull pennant on the XRP chart, arguing that its presence could result in major price… The post XRP to $20 as Analysts Say They’ve Never Seen a Bull Flag This Long first appeared on The Crypto Basic .
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XRP Price Slows Down: Will Bears Take Over or Bulls Fight Back?
XRP price is still trading in a range below the $0.550 level. The price is slowly moving lower and there could be more downsides below $0.520. XRP price is still stuck in a range above the $0.5080 support. The price is now trading below $0.5300 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $0.5285 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5300 and $0.5320 resistance levels. XRP Price Dips Further XRP price failed to start a fresh increase above the $0.5350 resistance. It started another decline and traded below the $0.5250 support level. However, losses were limited compared to Bitcoin and Ethereum. A low was formed at $0.5210 and the price is now consolidating losses. There was a minor increase within a range and the price climbed above the $0.5250 resistance. The price cleared the 23.6% Fib retracement level of the downward wave from the $0.5354 swing high to the $0.5210 low. The price is now trading below $0.5320 and the 100-hourly Simple Moving Average. If there is another increase, the price might face resistance near the $0.5300 level. There is also a connecting bearish trend line forming with resistance at $0.5285 on the hourly chart of the XRP/USD pair. It is close to the 50% Fib retracement level of the downward wave from the $0.5354 swing high to the $0.5210 low. The first major resistance is near the $0.5350 level. The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5650 resistance or even $0.580 in the near term. The next major hurdle might be $0.600. More Losses? If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5220 level. The next major support is near the $0.520 level. If there is a downside break and a close below the $0.520 level, the price might continue to decline toward the $0.5150 support in the near term. The next major support sits near the $0.5080 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5220 and $0.5200. Major Resistance Levels – $0.5350 and $0.5450. The Crypto Basic
Optimism Distributes 10.3 Million OP Tokens in Latest AirDrop
Optimism distributed 10.3 million OP tokens in its fifth AirDrop. Active users in Superchain received rewards for their engagement. Continue Reading: Optimism Distributes 10.3 Million OP Tokens in Latest AirDrop The post Optimism Distributes 10.3 Million OP Tokens in Latest AirDrop appeared first on COINTURK NEWS . The Crypto Basic