The post XRP Price vs. BTC Pressure: Can It Hold Its Ground? appeared on BitcoinEthereumNews.com.
XRP price is holding the ground above $2.25 despite pressure on Bitcoin. The price is now consolidating and aiming for a fresh increase above the $2.40 resistance. XRP price is showing a few positive signs above the $2.25 zone. The price is now trading below $2.3650 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a fresh increase if it stays above the $2.250 support. XRP Price Consolidates Below $2.50 XRP price failed to extend gains above the $2.40 and $2.45 resistance levels. The price reacted to the downsides, but losses were limited compared to Bitcoin and Ethereum. There was a move below the $2.32 and $2.25 support levels. The last swing low was formed at $2.202, and the price is now consolidating. There was a move above the $2.25 level. The price cleared the 50% Fib retracement level of the downward move from the $2.47 swing high to the $2.202 low. The price is now trading below $2.3650 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.380 level. There is also a key bearish trend line forming with resistance at $2.380 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.40 level or the 76.4% Fib retracement level of the downward move from the $2.47 swing high to the $2.202 low. The next resistance is $2.45. A clear move above the $2.45 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.6650 in the near term. The next major hurdle for the bulls might be $2.720. More…
