REDATOR Ben Graham Posted 3 hours ago REDATOR Report Share Posted 3 hours ago XRP price started a decent increase above $1.40. The price is now consolidating gains and might aim for more gains above the $1.50 zone. XRP price started a decent upward move above the $1.420 zone. The price is now trading above $1.4250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $1.3820 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.50. XRP Price Rally Reaches Resistance XRP price started a fresh upward move above $1.40 and $1.420, like Bitcoin and Ethereum. The price gained pace for a clear move above the $1.450 resistance. There was a break above a key bearish trend line with resistance at $1.3820 on the hourly chart of the XRP/USD pair. The bulls even pumped the price toward the $1.50 zone. A high was formed at $1.4936 and the price started a consolidation phase. There was a drop below the 23.6% Fib retracement level of the upward move from the $1.3125 swing low to the $1.4936 high. The price is now trading above $1.420 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.460 level. The first major resistance is near the $1.50 level, above which the price could rise and test $1.5450. A clear move above the $1.5450 resistance might send the price toward the $1.650 resistance. Any more gains might send the price toward the $1.720 resistance. The next major hurdle for the bulls might be near $1.80. Another Decline? If XRP fails to clear the $1.460 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.420 level. The next major support is near the $1.4030 level or the 50% Fib retracement level of the upward move from the $1.3125 swing low to the $1.4936 high. If there is a downside break and a close below the $1.4030 level, the price might continue to decline toward $1.3820. The next major support sits near the $1.3430 zone, below which the price could continue lower toward $1.320. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.420 and $1.4030. Major Resistance Levels – $1.460 and $1.50. Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.