Will XRP Price Rise Despite Challenges?


XRP is stabilizing over $0.5920. If it breaks $0.6050 barrier, the price may rise again.

XRP is looking to rise from $0.5920.
The price is below $0.600 and the 100-hour SMA.

On the hourly XRP/USD chart, a negative trend line connects to $0.6020 resistance.

If it breaks $0.6050 barrier, the pair may rise again.

XRP Price Rises

XRP tried another rise over $0.6150. The price broke $0.6180 and $0.6220 barrier. Unlike Bitcoin and Ethereum, upsides were capped above $0.630.

Traded as high as $0.6306 and lost most gains. It's consolidating losses after trading at $0.5925. The price rose little over $0.5950. It is presently below $0.600 and the 100-hourly Simple Moving Average.

A new advance may encounter resistance at $0.60. On the hourly XRP/USD chart, a negative trend line connects to $0.6020 resistance. It is around the 23.6% Fib retracement of the $0.6306 swing high to $0.5925 low decline.

Near $0.6050 is the first big resistance. Next barrier may be $0.6160, the 61.8% Fib retracement level of the decline from $0.6306 swing high to $0.5925 low.

A clean break over $0.6160 might push the price above $0.630. Near $0.6350 is the next significant resistance. More advances might push the price toward $0.6550 or $0.6880.

More drawbacks?

XRP may fall again if it fails to break $0.6050. Initial downside support is $0.5920. The next significant support is $0.5880.

If the price breaks down and closes below $0.5880, it may fall toward $0.5650. The next significant support is $0.5550.

Hourly MACD on XRP/USD is falling in the negative zone.

Relative Strength Index hourly XRP/USD RSI is below 50.

Major Support Levels: $0.5920, $0.5850.

Key Resistance Levels: $0.6050, $0.6160.

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