Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

XRP Price Falls Below Support, Bearish Momentum Builds

Source Newsbtc

XRP price started another decline from the $0.5980 zone. It is gaining bearish momentum and might drop below the $0.5500 support zone.

XRP price failed to clear the $0.60 resistance zone and trimmed gains.
The price is now trading below $0.5720 and the 100-hourly Simple Moving Average.
There was a break below a key bullish trend line with support at $0.5850 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could decline heavily if there is a close below the $0.550 pivot level.

XRP Price Trims Gains

XRP price extended gains above the $0.550 level like Bitcoin and Ethereum. However, the bulls failed to clear the $0.600 resistance zone. The price formed a high at $0.5989 and the price is now correcting gains.

There was a move below the $0.5750 level. Besides, there was a break below a key bullish trend line with support at $0.5850 on the hourly chart of the XRP/USD pair. The pair tested the 50% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5989 high.

The price is now trading below $0.5680 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5720 level and the 100-hourly Simple Moving Average.

The first major resistance is near the $0.580 level. The next key resistance could be $0.5850. A clear move above the $0.5850 resistance might send the price toward the $0.5980 resistance. The next major resistance is near the $0.600 level. Any more gains might send the price toward the $0.6120 resistance or even $0.620 in the near term.

More Downsides?

If XRP fails to clear the $0.5720 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5550 level. The next major support is $0.5420 or the 76.4% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5989 high.

If there is a downside break and a close below the $0.5420 level, the price might continue to decline toward the $0.530 support in the near term. The next major support sits at $0.5250.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.5550 and $0.5420.

Major Resistance Levels – $0.5720 and $0.5850.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Tesla jumps 5% as Barclays puts a $450 target on the SpaceX merger — the chart was already pointing to 431 Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.

Author Irene Q.

Oct 27, Tue

Tesla closed at $391.62 on October 26, up 5.21%, after Barclays upgraded the stock to Overweight and lifted its target to $450 from $370, citing a sharp inflection in Robotaxi miles and a potential SpaceX merger. The move also completed a double bottom at $345.88 and $349.33, with a neckline at $388.56 and a measured target of $431.24. Here is what the upgrade actually says, why the chart and the analyst now point the same way, and what would break the target.

Brent's $115 front month sits $4.6 above January — the $14 spread to WTI is the supply-risk premium December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Author Irene Q.

Oct 28, Wed

December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

The Fed held at 3.75%–4.00% — and two officials voted to hike. December is now 85% priced The FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.

Author Irene Q.

Oct 29, Thu

The FOMC held by a 10–2 vote, with Governor Cook and Cleveland Fed President Hammack dissenting for a 25bp hike. Chair Warsh offered no forward guidance and no dot plot, the 2-year yield fell 8bp to 4.70%, and the dollar slipped to 101.84 even as markets moved December hike odds to 85%–87%. Tonight's Q3 GDP and September core PCE are the next referee.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 30, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 30, 2026. Read on for the details.

Author Mitrade

Oct 30, Fri

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 30, 2026. Read on for the details.

US GDP grew 3.4% and core PCE held at 3.1% — December is now a hike trade, not a cut trade US Q3 GDP rose 3.4%, above the 3.1% estimate, while September headline PCE hit 3.6% and core held at 3.1%. December hike odds are near 90%; inventories, AI capex and energy explain why.

Author Irene Q.

Oct 30, Fri

US Q3 GDP rose 3.4%, above the 3.1% estimate, while September headline PCE hit 3.6% and core held at 3.1%. December hike odds are near 90%; inventories, AI capex and energy explain why.

Popular Symbols