XRP/USD Technical Analysis: Price surge coming soon.
- Ripple’s XRP price is trading in negative territory going down by 1.35%
- 1D MACD indicator is bearish
- The price surge is likely soon, but it can be either bearish or bullish
1-hour XRP/USD price chart
XRP/USD is still following a bearish trend line with price recording a decrease of 1.35% in the last 24 hours. The current outlook makes both bullish and bearish scenarios possible.
High volume, low tail candlestick suggests weakening selling pressure. Crucial support levels at $0.266, $0.260 and further down at $0.250 may prove a strong burden for the bears to break and push the price down more. In that case, price is expected to consolidate between the current support line of $0.2660 and immediate resistance of $0.2680 before breaking up on high volume and momentum above the $0.2750 mark.
The failed uptrend, on the other hand, may stimulate further sales with price breaking closest support levels and dropping down to $0.260 or even lower. The current MACD indicator on one hour chart suggests bearish outcome, the same is confirmed if we look at the MACD on the 15-minute chart.
Chart source: Tradingview
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