Can XRP Price Overcome Obstacles?
XRP is progressively rising over $0.5200. It has challenges around $0.5320 and may fall.
XRP wants to rise over $0.5250.
The price is above $0.5220 and the 100-hour SMA.
XRP/USD broke below a crucial bullish trend line with support around $0.5260 on the hourly chart.
Before the bulls return, the pair may correct below $0.5220.
Traction for XRP
XRP price sustained over $0.5120 and rose like Bitcoin and Ethereum. Price cleared $0.5200 and $0.5250.
Price broke over $0.5300 barrier and challenged $0.5320. After hitting $0.5325, the price is correcting. It fell below the 23.6% Fib retracement of the $0.5080 swing low to $0.5325 high.
The hourly XRP/USD chart also broke below a positive trend line with support at $0.5260. The pair is above $0.5220 and the 100-hour SMA.
The price faces upward resistance at $0.5200. Around $0.5320 is the initial resistance. Near $0.5350 is the next significant resistance. Price might rise if it closes over $0.5350 barrier. Around $0.550 is the next resistance.
A closing above $0.550 might lead to a continuous rise toward $0.5560. More advances might push price toward $0.5650 barrier.
If XRP fails to break $0.5350, it may fall. Initial downward support is at $0.5260.
The 50% Fib retracement level of the upward rise from the $0.5080 swing low to the $0.5325 high is $0.5200, the next significant support. If the price breaks down and closes below $0.520, it may accelerate downward. The price may fall and retest $0.5120 soon.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Major Support Levels: $0.5260, $0.5220.
Key Resistance Levels: $0.5300, $0.5320.
