XRP Nears $1.60 Breakout: Bull Run Return?

XRP is soaring over $1.480. Positive signals suggest the price may breach $1.60 shortly.

XRP hopes to get over $1.5850 barrier.
The price is above $1.520 and the 100-hour SMA.

XRP/USD broke above a negative trend line with resistance around $1.4450 on the hourly chart.

The pair may gather momentum if it breaks $1.600.
XRP Price Rises Above $1.50

Price of XRP stayed at $1.400. It developed a base and lately rose like Bitcoin and Ethereum. Above $1.420 and $1.4350 barrier levels.

XRP/USD broke above a negative trend line with resistance around $1.4450 on the hourly chart. The couple broke $1.50. The negative move from the $1.6339 swing high to the $1.2594 low was well over the 61.8% Fib retracement line.

The price is above $1.50 and the 100-hour SMA. It is also above the 76.4% Fib retracement of the $1.6339 swing high to $1.2594 low decline.

The price may find resistance at $1.5850 on the upside. Near $1.600 is the first substantial obstacle. The next hurdle may be $1.6350. A decisive break above $1.6350 might push the price above $1.6650. More advances might push the price toward $1.680 or $1.6920. Bulls may face $1.70 next.

Yet another setback?
If XRP fails to break $1.600, it might fall. Initially, downside support is approaching $1.500. Near $1.480 is the next important support.

If the price breaks down and closes below $1.480, it may fall toward $1.4550. Near $1.400 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: $1.5000, $1.4800.

Major resistance levels: $1.6000, $1.6350.

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