XRP rises: Can it break above $0.60?
XRP has once again broken above the $0.550 mark. The positive sign suggests that the price could rise above $0.5850 and $0.600.
XRP has once again successfully broken above the $0.550 mark.
The price is currently trading above $0.550 and the 100 hourly simple moving average.
A bullish trend line is showing on the hourly chart of XRP/USD with support near $0.5620.
If the pair can close above the $0.600 mark, it is likely to resume its rise.
XRP resumes its rise
XRP has established a base above $0.525 and started rising. The price broke above the $0.5450 mark and moved back into the positive zone with Ethereum and Bitcoin.
It also broke above the $0.5650 resistance level. The price maintained its upward momentum after touching a high of $0.5925. The price has retreated below the 23.6% Fibonacci retracement level of the rise from the $0.5330 low to $0.5925 high.
The price is currently trading above $0.5550 and the 100 hourly simple moving average. A bullish trend line is connected with the $0.5620 support on the hourly chart of XRP/USD.
The price is facing resistance at $0.5950 on the upside. The first important resistance is at $0.600. The next hurdle could be $0.620. A clean break above $0.620 could see the price rise above $0.6380. Closer to $0.650 is the next important resistance. More gains could push the price towards the $0.6880 resistance.
Is the pullback supported?
If XRP fails to break above $0.600, it could fall. Initial downside support is at $0.5620, which is the trend line and the 50% Fibonacci retracement level of the rise from the low of $0.5330 to the high of $0.5925.
The next important support is at $0.550. If it falls and closes below $0.550, the price may fall to around $0.5350
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