XRP Price Surges Ahead: Bullish Trends Signal Promising Price Upswing!
15 Julio 2024 - 11:58PM
NEWSBTC
XRP price is again gaining bullish momentum above the $0.520
resistance zone. The price is eyeing more upsides above $0.550 and
$0.5650. XRP price started another increase above the $0.5250
resistance zone. The price is now trading above $0.540 and the
100-hourly Simple Moving Average. There is a key bullish trend line
forming with support at $0.5220 on the hourly chart of the XRP/USD
pair (data source from Kraken). The pair could extend gains if
there is a close above the $0.5620 resistance level. XRP Price
Regains Strength XRP price formed a base above the $0.500 level and
started a fresh increase. The price broke the $0.5250 resistance to
move again into a positive zone like Ethereum and Bitcoin. There
was also a move above the $0.550 resistance level. A high was
formed at $0.5610 and the price is now consolidating gains above
the 23.6% Fib retracement level of the upward move from the $0.5227
swing low to the $0.5610 high. The price is now trading above
$0.5420 and the 100-hourly Simple Moving Average. Besides, there is
a key bullish trend line forming with support at $0.5220 on the
hourly chart of the XRP/USD pair. On the upside, the price is
facing resistance near the $0.5610 level. The first major
resistance is near the $0.5620 level. The next key resistance could
be $0.5650. A clear move above the $0.5650 resistance might send
the price toward the $0.5740 resistance. The next major resistance
is near the $0.580 level. Any more gains might send the price
toward the $0.600 resistance. Are Dips Limited? If XRP fails to
clear the $0.5620 resistance zone, it could start a downside
correction. Initial support on the downside is near the $0.5420
level and the 50% Fib retracement level of the upward move from the
$0.5227 swing low to the $0.5610 high. The next major support is at
$0.5280 and the trend line. If there is a downside break and a
close below the $0.5280 level, the price might continue to decline
toward the $0.5050 support in the near term. 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 – $0.5420
and $0.5280. Major Resistance Levels – $0.5620 and $0.5650.
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