The post XRP Price Pulls Back: Healthy Correction or Start of a Fresh Downtrend? appeared on BitcoinEthereumNews.com.

XRP price started a fresh increase above the $2.20 resistance. The price is now correcting gains and might find bids near the $2.050 zone. XRP price started a downside correction from the $2.250 resistance zone. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2.140 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might extend losses if there is a close below the $2.050 support zone. XRP Price Dips Again XRP price started a fresh increase above the $1.980 resistance, like Bitcoin and Ethereum. The price climbed above the $2.020 and $2.050 resistance levels. A high was formed at $2.244 and the price recently started a downside correction. There was a move below the $2.120 support zone. Besides, there was a break below a connecting bullish trend line with support at $2.140 on the hourly chart of the XRP/USD pair. The price even spiked below the 50% Fib retracement level of the upward move from the $1.920 swing low to the $2.244 high. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.120 level. The first major resistance is near the $2.180 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.250 resistance. 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 $2.50. Another Decline? If XRP fails to clear the $2.120 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level and the 61.8% Fib retracement level…

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Filed under: News - @ April 16, 2025 4:17 am