XRP Price Prediction for May 7: Will Support at $2.10 Hold Amidst Bearish Momentum?
XRP price today remains under pressure after failing to hold above the $2.18 resistance, slipping below key moving averages and testing a critical horizontal demand zone. Despite broader crypto resilience, XRP price action has remained sluggish, with no meaningful breakout since early May. Traders are now eyeing whether the $2.08–$2.10 support can cushion the ongoing slide or if deeper retracements lie ahead.
Trendline Breaks and Consolidation: What’s Happening with XRP’s Price?
The XRP price on the 4-hour chart reveals a clear rejection from the $2.24 zone—aligned with both the 0.236 Fibonacci level and the upper Bollinger Band. This rejection was followed by a downward slope beneath the 20, 50, and 100 EMAs, which all converge near $2.17–$2.18, now acting as short-term resistance. A bearish pennant breakdown on the 30-minute chart further accelerates downside pressure, confirming the loss of bullish momentum.
Support between $2.08 and $2.10 is holding for now, bolstered by an earlier demand cluster and the 0.382 Fibonacci retracement (approx. $2.07) from the April impulse move. A breach below this level co…
The post XRP Price Prediction for May 7: Will Support at $2.10 Hold Amidst Bearish Momentum? appeared first on Coin Edition.
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XRP Price Prediction for May 7: Will Support at $2.10 Hold Amidst Bearish Momentum?
XRP price today remains under pressure after failing to hold above the $2.18 resistance, slipping below key moving averages and testing a critical horizontal demand zone. Despite broader crypto resilience, XRP price action has remained sluggish, with no meaningful breakout since early May. Traders are now eyeing whether the $2.08–$2.10 support can cushion the ongoing slide or if deeper retracements lie ahead.
Trendline Breaks and Consolidation: What’s Happening with XRP’s Price?
The XRP price on the 4-hour chart reveals a clear rejection from the $2.24 zone—aligned with both the 0.236 Fibonacci level and the upper Bollinger Band. This rejection was followed by a downward slope beneath the 20, 50, and 100 EMAs, which all converge near $2.17–$2.18, now acting as short-term resistance. A bearish pennant breakdown on the 30-minute chart further accelerates downside pressure, confirming the loss of bullish momentum.
Support between $2.08 and $2.10 is holding for now, bolstered by an earlier demand cluster and the 0.382 Fibonacci retracement (approx. $2.07) from the April impulse move. A breach below this level co…
The post XRP Price Prediction for May 7: Will Support at $2.10 Hold Amidst Bearish Momentum? appeared first on Coin Edition.
Read More
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