$XRP Price Faces Resistance: Can It Overcome?

XRP's price is increasing above $0.5200 but is encountering hurdles near $0.5320, potentially prompting a correction.

XRP is striving to break above $0.5250, currently trading above $0.5220 and the 100-hourly Simple Moving Average.

A breach below a bullish trend line with support at $0.5260 suggests a corrective move towards $0.5220 could precede further bullish action.

XRP's Momentum

Maintaining support above $0.5120, XRP's upward trajectory echoes Bitcoin and Ethereum's movements. It cleared $0.5200 and $0.5250, reaching $0.5320 before correcting lower.

Despite breaching the $0.5300 resistance, the price is now correcting below $0.5320, testing the 23.6% Fib retracement level.

Outlook and Key Levels

Resistance lies at $0.5320, followed by a significant barrier at $0.5350. A close above $0.5350 could propel XRP toward $0.550. Conversely, failure to breach $0.5350 may trigger a decline towards $0.5260 support, with a pivotal level at $0.5200.

Technical Indicators

Hourly MACD: Losing bullish momentum.

Hourly RSI: Below the 50 level.

Key Levels

Support: $0.5260, $0.5220

Resistance:$0.5300, $0.5320

Disclaimer:

Research Yourself before investing, use only risk-worthy funds, and take full responsibility for your decisions.

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