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Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

XRP Bulls Flex Muscles: Potential Uptrend in Play?

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XRP price dipped but the bulls were active near the $0.4700 support. The price reclaimed the 100-hourly SMA and might continue to rise if it clears $0.4950.

  • XRP price found support at $0.4700 and started a recovery wave.
  • The price is now trading above $0.4800 and the 100-hourly Simple Moving Average.
  • There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could continue to rise unless it fails to stay above the $0.4820 support zone.

XRP Price Aims Higher

XRP price failed to clear the $0.520 resistance and reacted to the downside like Bitcoin and Ethereum. There was a sharp decline below the $0.500 and $0.4850 support levels. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair.

However, the bulls took a stand near $0.4700. The price started another upward move from the $0.4700 low. There was a move above the $0.4750 and $0.4820 resistance levels. The price even cleared the 23.6% Fib retracement level of the downward move from the $0.5202 swing high to the $0.4700 low.

The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4950 level and the 50% Fib retracement level of the downward move from the $0.5202 swing high to the $0.4700 low.

XRP Price Chart

The first key resistance is near $0.500. The next major resistance is near the $0.520 level. A close above the $0.520 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5500 resistance. Any more gains might send the price toward the $0.5550 resistance.

Another Decline?

If XRP fails to clear the $0.4950 resistance zone, it could start another decline. Initial support on the downside is near the $0.4865 level and the 100-hourly Simple Moving Average.

The next major support is at $0.4820. If there is a downside break and a close below the $0.4820 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.4550 support in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $0.4820 and $0.4700.

Major Resistance Levels – $0.4950 and $0.500.

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