XRP Slips Below Wedge Resistance After Failed Breakout
- Price Action Analysis: XRP is trading near $1.76 on the 4-hour chart after a failed attempt to break above descending resistance, indicating a lack of acceptance at higher levels and reinforcing broader structural weakness.
- Support Level Testing: Immediate support is around $1.72–$1.75, which has shown reaction during recent pullbacks, but repeated tests may weaken its effectiveness, and failure to hold here could lead to further downside risk.
- Volume Dynamics: Increased volume during the rejection phase highlights that sellers were actively engaging as price approached resistance, reinforcing the notion of distribution rather than breakout continuation, indicating a seller-dominated market structure.
- Market Structure Outlook: XRP remains within a broader descending triangle structure on higher timeframes, and as long as it trades below the main resistance trendline, the structure favors continued downside, necessitating caution in the current market environment.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP) As of , XRP (XRP) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.46 | 0.789 | 1.156 | 1.485 | 1.852 | 2.181 | 2.548 |
| Fibonacci | 0.789 | 1.055 | 1.219 | 1.485 | 1.751 | 1.915 | 2.181 |
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