💥💥💥 $XRP Price Poised for a Bullish Path Unless This Support Paves Way
XRP Price Shows Positive Momentum Above $0.4250 Support
Key Points:
- Recovery Wave: XRP is recovering above the $0.4250 zone.
- Current Trading: Trading above $0.4320 and the 100-hour Simple Moving Average.
- Rising Channel: Forming on the hourly chart with support at $0.4350.
- Potential Bullish Pace: Could gain momentum if it clears $0.4450 and $0.450 resistance levels.
XRP Price Analysis:
XRP is showing positive signs above $0.4250, similar to Bitcoin and Ethereum. It has risen above $0.4320, reaching a high of $0.4430 before consolidating. The price remains above the 23.6% Fib retracement level of the recent upward move from $0.4204 to $0.4430, as well as above $0.4320 and the 100-hour SMA.
Technical Indicators:
- Hourly MACD: Gaining pace in the bullish zone.
- Hourly RSI: Above the 50 level.
Support and Resistance Levels:
- Support: $0.4350, $0.4310, $0.4200
- Resistance: $0.4450, $0.4500, $0.4550, $0.4680, $0.4720
Potential Scenarios:
- Upside Break: Clearing $0.4450 could lead to $0.4500, $0.4550, $0.4680, and $0.4720. Further gains could push towards $0.480.
- Fresh Decline: Failing to clear $0.4450 might lead to declines, with initial support at $0.4350 and $0.4310. A break below $0.4310 could see the price drop towards $0.420.
Source - newsbtc.com
