Can XRP price overcome obstacles?

XRP is progressively rising above $0.5200. It has challenges around $0.5320 and could fall.

XRP wants to rise above $0.5250.

The price is above $0.5220 and the 100-hourly SMA.

XRP/USD broke below a crucial uptrend line with support around $0.5260 on the hourly chart.

Before the bulls return, the pair may correct below $0.5220.

Traction for XRP

XRP price remained above $0.5120 and increased like Bitcoin and Ethereum. The price was cleared from $0.5200 and $0.5250.

The price broke through the $0.5300 barrier and challenged $0.5320. After touching $0.5325, the price is correcting itself. It fell below the 23.6% Fib retracement from the swing low $0.5080 to high $0.5325.

The hourly XRP/USD chart also fell below a positive trend line with support at $0.5260. The pair is above $0.5220 and the 100-hourly SMA.

The price faces upside resistance at $0.5200. Around $0.5320 is initial resistance. Near $0.5350 is the next significant resistance. The price may rise if it closes above the $0.5350 barrier. Around $0.550 is the next resistance.

A close above $0.550 could lead to a continued rise towards $0.5560. Further advances could push the price towards the $0.5650 barrier.

If XRP fails to break above 0.5350, it could collapse. Initial downside support is at $0.5260.

The 50% Fib retracement level of the rise from the $0.5080 low to the $0.5325 high is $0.5200, the next significant support. If the price collapses and closes below $0.520, it could accelerate to the downside. The price may drop and test $0.5120 again soon.

Technological indicators

Hourly MACD - XRP/USD bullish MACD is trending lower.

The XRP/USD Hourly RSI of the Relative Strength Index is below 50.

Major support levels: $0.5260, $0.5220.

Key resistance levels: $0.5300, $0.5320.

#Binance #Bitcoin #DeFi #ETHEREUM #xrp

$XRP