Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
XRP price is up over 25% and moving higher above the $1.00 support zone. The price could accelerate higher if it clears the $1.1380 resistance zone.
- XRP price started a strong increase above the $0.880 resistance.
- The price is now trading above $1.00 and the 100-hourly Simple Moving Average.
- There was a break above a connecting bearish trend line with resistance at $1.050 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could start another increase if it stays above the $1.00 support zone.
XRP Price Rallies Over 50%
XRP price remained supported above the $0.700 level. It formed a base and started a strong increase above $0.8800. It outperformed Bitcoin and Ethereum and surged over 50%.
The price even climbed above the $1.00 level before the bears appeared. A high was formed at $1.2747 before there was a pullback. The price dipped below $1.150 and tested $1.100. It tested the $1.00 support. A low was formed at $0.9988 and the price is now rising.
There was a move above the $1.050 resistance. Besides, there was a break above a connecting bearish trend line with resistance at $1.050 on the hourly chart of the XRP/USD pair.
The price is now trading above $1.050 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.1380 level. It is close to the 50% Fib retracement level of the downward move from the $1.2747 swing high to the $0.9988 low.
The first major resistance is near the $1.200 level and the 76.4% Fib retracement level of the downward move from the $1.2747 swing high to the $0.9988 low.
The next key resistance could be $1.250. A clear move above the $1.250 resistance might send the price toward the $1.320 resistance. Any more gains might send the price toward the $1.3850 resistance or even $1.40 in the near term. The next major hurdle might be $1.50.
Are Dips Limited?
If XRP fails to clear the $1.1380 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.050 level. The next major support is near the $1.00 level.
If there is a downside break and a close below the $1.00 level, the price might continue to decline toward the $0.9320 support in the near term. The next major support sits near the $0.880 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $1.0500 and $1.0000.
Major Resistance Levels – $1.1380 and $1.2000.
