XRP Price Builds a Base: Can Bulls Rally?
XRP rose over $1.45 and $1.50 barrier. The price is stabilizing at $1.40 and may rise further.
XRP surged beyond $1.40 barrier.
The price is above $1.350 and the 100-hour SMA.
On the hourly XRP/USD chart, a new connecting negative trend line with resistance around $1.450 is formed.
Positive signals suggest the pair may rise above $1.450 barrier.
XRP Maintains Gains
XRP price gained from a base over $1.250. Above $1.350 and $1.40 barrier levels. It surpassed $1.50 in two days, topping Ethereum and Bitcoin.
Before falling, prices reached $1.6339. Price fell below $1.50 support. Price is climbing from $1.3007's low. Above the 23.6% Fib retracement level of the $1.6339 swing high to $1.3007 low bearish move.
The price is above $1.40 and the 100-hour SMA. Price may find resistance at $1.420 on the upside. Near $1.450 is the first substantial obstacle.
On the hourly XRP/USD chart, a new connecting negative trend line with resistance around $1.450 is formed. The 50% Fib retracement level of the decline from the $1.6339 swing high to the $1.3007 low is near.
The next hurdle may be $1.500. A clean break over $1.50 might push the price beyond $1.5550. More advances might push the price toward $1.620 or $1.650. Bulls may face $1.750 or $1.80 next.
Are Dips Limited?
If XRP fails to break $1.450, it might fall. Initial downward support is about $1.3450. Near $1.320 is the next key support.
If the price breaks down and closes below $1.320, it may fall toward $1.300. Near $1.240 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD MACD is rising in the positive zone.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $1.4200, $1.4000.
Major resistance levels: $1.4500, $1.5000.