📊 XRP Price Stabilizes at $1.30: Can Momentum Build?
XRP price is consolidating near the $1.400 zone. The price must clear the $1.4550 resistance zone to start a fresh increase in the near term.
XRP price is struggling to gain pace for a move above the $1.50 level.
The price is now trading below $1.450 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance at $1.4550 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might gain traction if it clears the $1.4550 resistance.
🔸 XRP Price Stuck Below $1.50
XRP price struggled to gain pace for a move above the $1.50 level. It dipped again and even spiked below the $1.30 level. A low was formed at $1.2828 and the price is now recovering losses unlike Bitcoin and like Ethereum.
There was a move above the $1.3250 and $1.340 resistance levels. The price tested the 50% Fib retracement level of the downward move from the $1.5389 swing high to the $1.2828 low. However, the bears seem to be active near the $1.420 resistance zone.
The price is now trading below $1.45 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.420 level. The first major resistance is near the $1.450 level or the 61.8% Fib retracement level of the downward move from the $1.5389 swing high to the $1.2828 low.
There is also a key bearish trend line forming with resistance at $1.4550 on the hourly chart of the XRP/USD pair. The next key resistance could be $1.50.
A clear move above the $1.50 resistance might send the price toward the $1.550 resistance. Any more gains might send the price toward the $1.600 resistance or even $1.620 in the near term. The next major hurdle for the bulls might be $1.650 or $1.6550.