XRP Price Above Support: Breakout Ahead?
XRP is hitting $0.5220, critical support.
Unless $0.5220 support holds, bulls may push for another rise.
XRP struggles to get over $0.5350 barrier.
The price is below $0.5320 and the 100-hour SMA.
Binance data shows a negative trend line with resistance around $0.5280 on the hourly XRP/USD chart.
The pair may rise again until bears force it below $0.5220.
XRP Maintains Support
XRP fell again and tested $0.5220 like Bitcoin and Ethereum. A surge below $0.5220 support zone occurred, although bulls remained aggressive.
Price is over $0.5220 after a low of $0.5192. The price is around the 23.6% Fib retracement of the falling wave from $0.5405 swing high to $0.5192 low. Under $0.5320 and the 100-hourly Simple Moving Average.
The price faces upward resistance at $0.5280. On the hourly XRP/USD chart, a negative trend line with resistance around $0.5280 is formed.
Initial resistance is approaching $0.5300, the 61.8% Fib retracement level of the falling wave from $0.5405 swing high to $0.5192 low. Price might rise if it closes over $0.5300 barrier. Resistance around $0.540 is next.
A closing above $0.540 might lead to a continuous rise toward $0.5450. More advances might push price toward $0.5650 barrier.
More drawbacks?
If XRP fails to break $0.5280, it may fall. Initial downside support is $0.5220.
The next significant support is $0.5120. If the price breaks down and closes below $0.5120, it may accelerate downward. In this instance, the price may fall and retest $0.50.
Hourly MACD on XRP/USD is falling in the negative zone.
Relative Strength Index hourly XRP/USD RSI is below 50.
Key Support Levels: $0.5220, $0.5120.
Key Resistance Levels: $0.5280, $0.5300.
