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XRP Bulls on Edge—Could the Downtrend Continue?

XRP price started a fresh decline below the $2.650 resistance. The price is now consolidating losses and might face resistance near the $2.550 zone. XRP price started a fresh decline below the $2.650 zone. The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $2.40 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to move down if it remains below the $2.550 resistance zone. XRP Price Faces Resistance XRP price started a fresh decline from the $3.00 resistance, like Bitcoin and Ethereum . The price dipped below the $2.80 and $2.60 levels. The bears were able to push the price below the 50% Fib retracement level of the upward move from the $1.95 swing low to the $3.00 high. Finally, the bulls appeared near the $2.20 support zone. A base is forming and the price is now attempting to recover above $2.30. The price is now trading above $2.40 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $2.40 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $2.550 level. The first major resistance is near the $2.650 level. The next resistance is $2.750. A clear move above the $2.750 resistance might send the price toward the $2.80 resistance. Any more gains might send the price toward the $2.880 resistance or even $2.920 in the near term. The next major hurdle for the bulls might be $3.00. Another Decline? If XRP fails to clear the $2.550 resistance zone, it could start another decline. Initial support on the downside is near the $2.40 level. The next major support is near the $2.320 level. If there is a downside break and a close below the $2.320 level, the price might continue to decline toward the $2.20 support and the 76.4% Fib retracement level of the upward move from the $1.95 swing low to the $3.00 high. The next major support sits near the $2.120 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 above the 50 level. Major Support Levels – $2.40 and $2.320. Major Resistance Levels – $2.550 and $2.750. Decrypt

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Mexican Billionaire Doubles Down on Bitcoin with Bold Investment Strategy

Ricardo Salinas allocates 70% of his portfolio to Bitcoin and 30% to gold. He advocates dollar-cost averaging to manage market volatility effectively. Continue Reading: Mexican Billionaire Doubles Down on Bitcoin with Bold Investment Strategy The post Mexican Billionaire Doubles Down on Bitcoin with Bold Investment Strategy appeared first on COINTURK NEWS . Decrypt