XRP price found support at $2.420 and began a new round of increases. The current price is correcting from the rise since $2.60 and may rise again.
XRP price begins to break through the $2.50 area and rises again.
The current price is above $2.50 and the 100-hour simple moving average.
On the hourly chart for XRP/USD, a key bullish trendline is forming, with support at $2.510 (data source: Kraken).
If the closing price breaks above the $2.60 resistance level, this currency pair may rise again.
XRP Price Regains Momentum
XRP price continues to maintain support above $2.40 and has initiated a new upward trend similar to Bitcoin and Ethereum. The price briefly broke above the levels of $2.50 and $2.550.
The bulls pushed the price above the resistance level of $2.580, laying the foundation for further gains. Ultimately, the price tested the $2.60 area. After reaching a high of $2.6050, the price experienced a pullback. Subsequently, the price fell below $2.5650 and dropped below the 23.6% Fibonacci retracement level from the low of $2.4220 to the high of $2.6050.
The current price is trading above $2.50 and the 100-hour simple moving average. A key bullish trendline is forming on the XRP/USD hourly chart, with support at $2.510.
On the upside, the price may face resistance near $2.60. The first major resistance level is around $2.650. The next resistance level is $2.720. If the price clearly breaks above the $2.720 resistance level, it could drop towards the $2.80 resistance level. If the price continues to rise, it may drop towards the $2.850 resistance level, or even $2.880. The next major resistance level for the bulls may be $2.950.
Downward Correction?
If XRP fails to break the $2.60 resistance level, it may initiate a new downward move. On the downside, the initial support level is near $2.510 and around the trendline. The next major support level is near $2.492, as well as the 61.8% Fibonacci retracement level from the low of $2.4220 to the high of $2.6050.
If the downward resistance is broken and closes below $2.4920, the price may continue to fall to the support level of $2.450. The next major support level is near the $2.420 area.
Technical Indicators
Hourly MACD - The MACD for XRP/USD is currently accelerating in the bullish zone.
Hourly RSI (Relative Strength Index) - The RSI for XRP/USD is now above the 50 level.
Major Support Levels - $2.510 and $2.4920.
Major Resistance Levels - $2.60 and $2.650.
XRP price found support at $2.420 and began a new round of increases. The current price is correcting from the rise since $2.60 and may rise again.
XRP price begins to break through the $2.50 area and rises again.
The current price is above $2.50 and the 100-hour simple moving average.
On the hourly chart for XRP/USD, a key bullish trendline is forming, with support at $2.510 (data source: Kraken).
If the closing price breaks above the $2.60 resistance level, this currency pair may rise again.
XRP Price Regains Momentum
XRP price continues to maintain support above $2.40 and has initiated a new upward trend similar to Bitcoin and Ethereum. The price briefly broke above the levels of $2.50 and $2.550.
The bulls pushed the price above the resistance level of $2.580, laying the foundation for further gains. Ultimately, the price tested the $2.60 area. After reaching a high of $2.6050, the price experienced a pullback. Subsequently, the price fell below $2.5650 and dropped below the 23.6% Fibonacci retracement level from the low of $2.4220 to the high of $2.6050.
The current price is trading above $2.50 and the 100-hour simple moving average. A key bullish trendline is forming on the XRP/USD hourly chart, with support at $2.510.
On the upside, the price may face resistance near $2.60. The first major resistance level is around $2.650. The next resistance level is $2.720. If the price clearly breaks above the $2.720 resistance level, it could drop towards the $2.80 resistance level. If the price continues to rise, it may drop towards the $2.850 resistance level, or even $2.880. The next major resistance level for the bulls may be $2.950.
Downward Correction?
If XRP fails to break the $2.60 resistance level, it may initiate a new downward move. On the downside, the initial support level is near $2.510 and around the trendline. The next major support level is near $2.492, as well as the 61.8% Fibonacci retracement level from the low of $2.4220 to the high of $2.6050.
If the downward resistance is broken and closes below $2.4920, the price may continue to fall to the support level of $2.450. The next major support level is near the $2.420 area.
Technical Indicators
Hourly MACD - The MACD for XRP/USD is currently accelerating in the bullish zone.
Hourly RSI (Relative Strength Index) - The RSI for XRP/USD is now above the 50 level.
Major Support Levels - $2.510 and $2.4920.
Major Resistance Levels - $2.60 and $2.650.
