đ„đ„đ„ $XRP Price Hints at Breakout: Can It Achieve New Heights?
XRP Price Analysis: Eyeing Break Above $0.6200 Resistance
Support Zone: XRP shows positive signs from the $0.600 support zone.
Current Trading: The price is above $0.6050 and the 100-hourly Simple Moving Average (SMA).
Key Triangle Break: There was a break above a key contracting triangle with resistance at $0.6050 on the hourly chart (Kraken data).
Potential Bullish Momentum: The pair could gain bullish momentum if it stays above the $0.5940 support zone.
Upside Potential:
- Key Resistance Levels: $0.6135, $0.6200 (76.4% Fib retracement), $0.6320.
- Major Resistance Levels: $0.6465 and $0.6500, with additional gains possibly pushing toward $0.6750.
Potential Pullback:
- Support Levels: Initial support at $0.600, with major support at $0.5940.
- Downside Risk: A break below $0.5940 could lead to a decline toward $0.5820 and then $0.5750.
Technical Indicators:
- #MACD : Gaining pace in the bullish zone.
- #RSI : Near the 50 level.
- Major Support Levels: $0.6000 and $0.5940.
- Major Resistance Levels: $0.6075 and $0.6200.
XRP price is poised for a potential increase if it clears the $0.6200 resistance level, aiming to gain bullish momentum.
Source - newsbtc.com
