Consolidation Above Key Support
XRP’s price continues to consolidate above the $1.050 support level, showing signs of preparing for another move upward. The key resistance lies at $1.180, and breaking this level could pave the way for further gains.
XRP Strengthens Above Critical Levels
After establishing a strong base at $1.00, XRP began climbing again. It managed to break through resistance levels at $1.050 and $1.080, outperforming both Bitcoin and Ethereum.
The price has moved above the 50% Fibonacci retracement level of the previous decline from $1.2745 to $0.9988. Bulls even pushed XRP above the $1.150 resistance, but it faced resistance near $1.170.
Currently, XRP is trading above $1.080 and the 100-hour simple moving average (SMA), which is a positive signal. Additionally, a bullish trend line with support at $1.100 is forming on the hourly chart, providing further support for the bulls.
Key Resistance Levels and Growth Potential
If XRP breaks through resistance at $1.1680, it could target the following levels:
$1.200, the first major hurdle.
$1.2740, a breakout above which could push the price toward $1.3220.
With continued bullish momentum, XRP could potentially reach $1.3500 or even $1.3620.
A further key resistance level lies at $1.450.
Support Levels for Potential Pullback
If XRP fails to clear resistance at $1.1680, a pullback may follow:
The first support level is at $1.100, near the trend line.
The next significant support is at $1.060.
A break below $1.060 could lead to further declines toward $1.000 or even $0.980.
Technical Indicators
MACD: Indicates strengthening bullish momentum.
RSI: Positioned above 50, signaling buyer dominance.
Summary
XRP remains in a bullish trend, with potential to rise beyond $1.200. Key support levels suggest that any pullbacks could be limited. Investors should watch for breakouts above major resistance levels, which could signal further gains.
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