{"id":2195,"date":"2024-12-27T19:13:09","date_gmt":"2024-12-27T19:13:09","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/xrp-price-takes-a-5-hit-is-more-downside-ahead\/"},"modified":"2024-12-27T19:13:09","modified_gmt":"2024-12-27T19:13:09","slug":"xrp-price-takes-a-5-hit-is-more-downside-ahead","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/xrp-price-takes-a-5-hit-is-more-downside-ahead\/","title":{"rendered":"XRP Price Takes a 5% Hit: Is More Downside Ahead?"},"content":{"rendered":"<p><em>XRP price failed to continue higher above $2.35 and declined. The price is down over 5% and is showing bearish signs below the $2.20 level.<\/em><\/p>\n<ul>\n<li>XRP price started another decline below the $2.250 support level.<\/li>\n<li>The price is now trading below $2.25 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a key declining channel with support at $2.235 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n<li>The pair might start a fresh increase if it stays above the $2.120 support.<\/li>\n<\/ul>\n<h2>XRP Price Dips Again<\/h2>\n<p>XRP price failed to clear the $2.35 resistance and started a fresh decline, like Bitcoin and Ethereum. There was a sharp move below the $2.30 and $2.50 support levels.<\/p>\n<p>Besides, there was a break below a key declining channel with support at $2.235 on the hourly chart of the XRP\/USD pair. The pair declined over 5% and even tested the $2.120 zone. A low was formed at $2.126 and the price is now consolidating losses.<\/p>\n<p>It corrected some losses and climbed above $2.15. It tested the 23.6% Fib retracement level of the recent decline from the $2.348 swing high to the $2.126 low. The price is now trading below $2.25 and the 100-hourly Simple Moving Average.<\/p>\n<p>On the upside, the price might face resistance near the $2.18 level. The first major resistance is near the $2.20 level. The next resistance is $2.24 or the 50% Fib retracement level of the recent decline from the $2.348 swing high to the $2.126 low. A clear move above the $2.24 resistance might send the price toward the $2.30 resistance.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-667404\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/XRP_Price_fe631b.png?resize=1024%2C478\" alt=\"XRP Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>Any more gains might send the price toward the $2.320 resistance or even $2.350 in the near term. The next major hurdle for the bulls might be $2.450.<\/p>\n<h2>More Losses?<\/h2>\n<p>If XRP fails to clear the $2.24 resistance zone, it could start another decline. Initial support on the downside is near the $2.12 level. The next major support is near the $2.10 level.<\/p>\n<p>If there is a downside break and a close below the $2.10 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for XRP\/USD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $2.120 and $2.100.<\/p>\n<p>Major Resistance Levels \u2013 $2.180 and $2.240.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>XRP price failed to continue higher above $2.35 and declined. The price is down over 5% and is showing bearish signs below the $2.20 level. XRP price started another decline below the $2.250 support level. The price is now trading below $2.25 and the 100-hourly Simple Moving Average. There was a break below a key&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[44,40,63,48,49],"class_list":["post-2195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-ripple","tag-xrp","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/2195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=2195"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/2195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/2196"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=2195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=2195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=2195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}