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Categories:

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 Price Ready to Run? Bulls Eyes Fresh Gains Amid Bullish Setup

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XRP price started a fresh increase above the $1.950 resistance. The price is now consolidating and must settle above $2.00 for more gains.

  • XRP price started a fresh increase above the $1.880 and $1.950 levels.
  • The price is now trading above $1.920 and the 100-hourly Simple Moving Average.
  • There was a break above a short-term bearish trend line with resistance at $1.9750 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might extend gains if there is a close above the $2.00 resistance zone.

XRP Price Eyes Fresh Gains

XRP price managed to stay above the $1.780 support zone and started a fresh increase, like Bitcoin and Ethereum. The price climbed above the $1.880 and $1.950 resistance levels.

A high was formed at $2.089 and the price recently started a downside correction. There was a move below the $2.00 support zone. The price dipped below the 23.6% Fib retracement level of the upward move from the $1.7210 swing low to the $2.0895 high.

However, the bulls were active near the $1.920 support. The price is now trading above $1.950 and the 100-hourly Simple Moving Average. Recently, there was a break above a short-term bearish trend line with resistance at $1.9750 on the hourly chart of the XRP/USD pair.

On the upside, the price might face resistance near the $2.00 level. The first major resistance is near the $2.050 level. The next resistance is $2.0750.

XRP Price

A clear move above the $2.0750 resistance might send the price toward the $2.120 resistance. Any more gains might send the price toward the $2.150 resistance or even $2.20 in the near term. The next major hurdle for the bulls might be $2.320.

Another Decline?

If XRP fails to clear the $2.00 resistance zone, it could start another decline. Initial support on the downside is near the $1.950 level. The next major support is near the $1.920 level.

If there is a downside break and a close below the $1.920 level, the price might continue to decline toward the $1.90 support and the 50% Fib retracement level of the upward move from the $1.7210 swing low to the $2.0895 high. The next major support sits near the $1.850 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 – $1.950 and $1.90.

Major Resistance Levels – $2.00 and $2.0750.

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