By
Chimamanda U. Martha
April 18th, 2024
The main resistance for the XRP/USD is close to the level of $0.2340, upside zone where the bulls are likely to gain more upward energy.
XRP fell over 4% after it was rejected around $0.2450 price level versus the US dollar, as Bitcoin traded around $8,900 price level. The XRP price has now moved toward the primary support levels at $0.2212 and $0.2200.
During the present week, we recorded great development up in Bitcoin, Ethereum and XRP versus the US dollar. The price of XRP rose past barrier levels of $0.2250 and $0.2320.
The price has relentlessly declined after the development of a transient top in the district of $0.2450 level versus the US dollar.
It has fallen by over 8% contrasted with the ongoing high, and now it is well underneath the level at $0.2340.
Starting late, the XRP/USD pair broke underneath the main support of the horizontal line on the level at $0.2255.
The pair must stay past the support level of$0.2200 and the moving average 5 and 13 to recuperate its losses.
In any case, a breakthrough happened past the opposition of a $0.2400 price level. Furthermore, the price was inclining up to a new high of 2020 – around the level at$0.2450. The momentary high appears to have conformed to $0.2450 level, and the price is as of now plunging.
Furthermore, XRP has just broken the support level of $0.2340. Moreover, on the daily time frame of the XRP/USD pair, there was a break underneath the main support of the horizontal level at $0.2255. The pair was inclining underneath the horizontal retracement level from the upward development on the low of $0.2100 to a high of $0.2450 level.
XRP as of present is trending close to the main support level of $0.2200 and the moving average 5 and 13 zones. Besides, the correction level on the horizontal line of the upward movement from a low of $0.2100 level. To a high of $0.2450 level which is quite close to the level of $0.2255.
XRP/USD May Stay Afloat of the $0.2200 Price Level
Supply Levels: $0.2200, $0.2100, $0.2000
Demand Levels: $0.2501, $0.2450, $0.2340
So far the crypto pair price is past the support level of $0.2200, it may start a fresh growth. Initial resistance is near the level of $0.2340 and $0.2450.
The main resistance for the XRP/USD is close to the level of $0.2340, upside zone where the bulls are likely to gain more upward energy. In the mentioned bullish scenario, the price may return to a recent high or $0.2450 in the exchanging sessions.