XRP’s price is gradually moving higher above the support level at $0.6320. Currently, it has reached the $0.7450 zone, where it is now consolidating its gains.
Rise Above the $0.6320 Resistance: XRP shows promising growth, trading above $0.6450 and the 100-hour simple moving average.
Bullish Trendline Formation: A key bullish trendline is forming on the hourly chart for the XRP/USD pair (Kraken) with support at $0.6280.
Potential for Further Growth: If XRP holds above the $0.6160 support zone, further upward movement may follow.
Further Gains for XRP
XRP has held above $0.600 and formed a strong base, allowing for additional growth above $0.6200. In the last two sessions, XRP outperformed both Bitcoin and Ethereum by breaking through the resistance at $0.6320.
The price even reached above $0.7320 but met selling pressure around $0.7488, which led to a slight dip to $0.700. It then tested the 50% Fibonacci retracement level from the previous move between the $0.6419 low and $0.7488 high.
Currently, XRP remains above $0.6320 and the 100-hour simple moving average, with strong support from the bullish trendline.
Key Resistance Levels for Further Uptrend
If the price continues to rise, it may encounter initial resistance near the $0.7220 level. Additional significant resistance can be found at $0.7480 and $0.7550. A clear move above $0.7550 could open the path towards further targets at $0.7780 and potentially $0.800. The main resistance barrier stands at $0.8220.
Potential for Pullback?
If XRP fails to clear the $0.7220 resistance zone, a correction could follow. Initial support is around $0.6820, while a more substantial support level lies at $0.6670, corresponding to the 76.4% Fibonacci retracement from the $0.6419 low to the $0.7488 high.
A breakdown below $0.6670 and close under this level could lead to a continued decline toward the $0.6160 support and further down to $0.600.
Technical Indicators
Hourly MACD: The MACD for XRP/USD is losing momentum in the bullish zone.
Hourly RSI: The RSI for XRP/USD remains above 50, indicating a bullish tendency.
Key Support Levels: $0.6820 and $0.6670.
Key Resistance Levels: $0.7220 and $0.7450.
#XRPGoal , #Altcoins👀🚀 , #CryptoNewss , #Xrp🔥🔥 , #XRPPredictions
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
