Bitcoin is rising, can XRP keep up?
XRP price is now stable above $0.535. Although Bitcoin has been rising, XRP is still trying to break through the $0.555 level.
XRP price is hovering around $0.538 and is now approaching $0.542 and the 100 hourly simple moving average. On the hourly chart, XRP also broke through the previous downtrend line, which had resistance at $0.542.
XRP price is indeed rising slowly. It is standing firm at the $0.535 support level, but it has not risen as sharply as Bitcoin and Ethereum. From $0.538, the price has risen a little bit.
Now the price is around $0.54 and the 100 hourly simple moving average. If it rises, it may encounter resistance around $0.55 or the 50% Fibonacci retracement level of the previous decline.
The first level of a big rise is at $0.555. If it breaks through, the next target may be $0.565. If it can really rise above $0.565, the price may continue to rush to $0.58, $0.588, or even $0.5925. Finally, $0.6 may be a big level.
But if it fails to break through $0.555, the price of XRP may fall. The first support level to defend is $0.54. If it fails to defend, $0.538 may also be a support level.
If it really falls below $0.538, the price may continue to fall to $0.532, or even $0.525.
From the technical indicators, the MACD speed of XRP/USD is slowing down, but it is still in the bullish zone. The RSI is also above the 50 level.
Therefore, the main support levels are $0.54 and $0.538, and the main resistance levels are $0.55 and $0.555. Let's see if XRP can keep up with Bitcoin's pace.
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