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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%
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Breaking News: Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

XRP Price Holds Firm – Fresh Rally Could Be Brewing

Aayush Jindal
Aayush Jindal
23 hours ago
2 mins read
XRP Price Holds Firm

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Created by industry experts and meticulously reviewed
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XRP price gained pace for a move above the $3.00 resistance. The price is now consolidating gains and might start another increase above $3.080.

  • XRP price is facing hurdles and struggling to clear the $3.080 resistance.
  • The price is now trading above $3.00 and the 100-hourly Simple Moving Average.
  • There is a key bullish trend line forming with support at $3.020 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could continue to rise if it stays above the $2.950 zone.

XRP Price Eyes Upside Break

XRP price managed to stay above the $2.880 level and started a fresh increase, beating Bitcoin and Ethereum. The price climbed above the $2.920 and $2.980 resistance levels.

The bulls even pumped the price above the $3.020 level. A high was formed at $3.0725 and the price is now consolidating gains. There was a minor decline and the price tested the 23.6% Fib retracement level of the upward move from the $2.9365 swing low to the $3.0725 high.

The price is now trading above $3.00 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $3.020 on the hourly chart of the XRP/USD pair.

XRP Price
Source: XRPUSD on TradingView.com

If the bulls protect the $3.00 support, the price could attempt another increase. On the upside, the price might face resistance near the $3.050 level. The first major resistance is near the $3.080 level. A clear move above the $3.080 resistance might send the price toward the $3.120 resistance. Any more gains might send the price toward the $3.150 resistance. The next major hurdle for the bulls might be near $3.20.

Downside Correction?

If XRP fails to clear the $3.080 resistance zone, it could continue to move down. Initial support on the downside is near the $3.00 level. The next major support is near the $2.9880 level and the 50% Fib retracement level of the upward move from the $2.9365 swing low to the $3.0725 high.

If there is a downside break and a close below the $2.9880 level, the price might continue to decline toward $2.950. The next major support sits near the $2.920 zone, below which the price could gain bearish momentum.

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 – $3.020 and $3.00.

Major Resistance Levels – $3.080 and $3.120.

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Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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.

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