Oh, what a delightful journey! XRP‘s price, in a fit of madness, ascended above $2.550. Yet, the specter of $2.650 looms, threatening to drag it back into the abyss. A tale of hubris and bears, truly.
- XRP’s price, in a moment of fleeting courage, surged past $2.60 and $2.620-only for the bears, those sly villains, to pounce like hungry wolves.
- The price now cowers below $2.60, a shadow of its former self, and the 100-hourly Simple Moving Average, that steadfast guardian, now seems a distant memory.
- A break below the bullish trend line, that fragile hope, at $2.6350. The hourly chart of XRP/USD, a canvas of despair, reveals the truth: the bears reign supreme.
- If XRP dares to rise again, it must first conquer $2.50. A humble goal, yet fraught with peril.
XRP Price Retreats Lower
XRP’s price, in a fit of madness, ascended after settling above $2.50, a mirage of hope. It surpassed $2.550 and $2.60, only to be met with the cold, unyielding wall of $2.650. A high was formed at $2.6972, and the price, like a drunken sailor, stumbled into a downside correction.
A move below the 23.6% Fib retracement level of the recent move from $2.327 to $2.6972. The bears, ever the villains, strike again. A break below the bullish trend line at $2.6350-how tragic!
The price now trades below $2.60 and the 100-hourly Simple Moving Average, a double whammy of despair. The bulls, once mighty, now cower in the corner.
If there is a fresh upward move, the price might face resistance near $2.620. The first major hurdle, $2.650, looms like a dark cloud. A clear move above $2.6880? A dream, a fantasy. The next major hurdle, $2.80, a fortress of hope for the bulls. But who believes in miracles?
More Losses?
If XRP fails to clear $2.650, it could descend into the depths. Initial support, $2.5650, a fleeting promise. The next major support, $2.550, a ghost of past glory.
A downside break and close below $2.550? The price might tumble toward $2.5120 or the 50% Fib retracement level. The next major support, $2.450, a distant star. Below that, $2.40-where the bears feast on the weak.
Technical Indicators
Hourly MACD – The MACD for XRP/USD, a weary traveler, now gains pace in the bearish zone. A bleak outlook, indeed.
Hourly RSI – The RSI, once a beacon of hope, now slumps below 50. A sign of despair, or perhaps a test of patience?
Major Support Levels – $2.550 and $2.5120. A tale of two supports, both crumbling under the weight of doubt.
Major Resistance Levels – $2.650 and $2.6880. A fortress of resistance, unyielding and cruel.
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2025-10-29 07:20