This article is also available in Spanish. The price of XRP gained momentum and was able to overcome the resistance of 0.600 dollars. The XRP price has gained more than 10% and is now around USD 0.6450. The bulls managed to raise prices above the resistance levels of $0.6120 and $0.6250.
The resistance level of $0.650 was also broken. The maximum was formed at $0.6642, after which the price started downward correction; there were movements below the levels of $0.6550 and $0.6500. The price tested the 50% Fib retracement level upwards from the low of $0.6082 to the high of $BTC the price is currently trading above the 100-hour simple moving average at $0.6250. On the hourly chart of the XRP/USD pair, the pair may encounter resistance near $0.650, where a key narrowing triangle has formed at $BTC The first key resistance is at $0.6550. The next key resistance could be at $0.6640; a clear break above $0.6640 could send prices higher to $0.6850. Further upside could take the price to $0.700 or even $0.720 resistance in the short term. The initial support for the decline is at $0.6350. The next major support is at $0.6285 and the 61.8% Fib retracement level for an upward move from the $0.6082 low to the $0.6642 high.
A downside break and a close below $0.6285 could cause the price to continue falling towards the $0.6120 support level in the short term. The next major support is at $BTC hourly MACD - MACD for XRP/USD is currently losing momentum in the bullish zone.
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