Will XRP Hold 100 SMA and Rise Again?
Price of XRP rose over $0.5450 barrier. The price is reversing gains and may stay above the 100-hourly SMA.
XRP rose over $0.5450 barrier.
The price is above $0.5250 and the 100-hour SMA.
The hourly XRP/USD chart shows a bullish trend line with support at $0.5330.
After correcting gains, the pair might rise again until it closes below the 100-hourly SMA.
XRP Stays Put
XRP, like Bitcoin and Ethereum, stayed bullish after closing over $0.520. It crossed $0.5320 and $0.5450 resistance. The price surged over $0.550.
After hitting a weekly high of $0.5571, the price is correcting. Price fell below $0.5450. The price fell below the 23.6% Fib retracement level of the ascending wave from $0.5065 swing low to $0.5571 high.
It's above $0.530 and the 100-hour SMA. On the hourly XRP/USD chart, a bullish trend line with support around $0.5330 is formed.
Resistance around $0.5380 is immediate. Near $0.5450 is the initial resistance. A closing above $0.5450 resistance might boost prices. Around $0.5570 is the next resistance. Bulls might push the price over $0.5570 barrier and steadily rise above $0.5650. More advances might push price toward $0.5720 barrier.
Without clearing the $0.5450 barrier zone, XRP may continue to fall. The trend line and $0.5330 provide first downward support. It is around the 50% Fib retracement level of the ascending wave from $0.5065 swing low to $0.5571 high.
The next significant support is $0.5250. Main support is about $0.5185. If the price breaks down and closes below $0.5185, it may accelerate downward. In this situation, the price may decrease to $0.5065 soon.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
Relative Strength Index hourly XRP/USD RSI is below 50.
Key Support Levels: $0.5330, $0.5185.
Key Resistance Levels: $0.5450, $0.5570.
