Bitcoin

Resistance

XRP price is slowly moving higher above the $0.5120 zone. It could start a major increase if there is a close above the $0.5320 resistance zone. 
<ul> 
 <li>XRP is attempting a fresh increase above the $0.5220 zone.</li> 
 <li>The price is now trading above $0.520 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support at $0.5240 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start a decent increase if there is a clear move above $0.5300.</li> 
</ul> 
<h2 id="xrp-price-holds-support">XRP Price Holds Support</h2> 
XRP price remained well-supported above the $0.500 zone and started a fresh increase like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-green-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stuck-3840/" target="_blank" rel="noopener ">Ethereum</a>. The price was able to clear the $0.5120 and $0.5150 levels. 
There was a clear move above the $0.5250 resistance and the price tested the $0.530 zone. A high was formed at $0.5300 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.5080 swing low to the $0.5300 high. 
The price is now trading above $0.5250 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.5240 on the hourly chart of the XRP/USD pair. 
On the upside, the price is facing resistance near the $0.5280 level. The first key resistance is near $0.5300. The next major resistance is near the $0.5320 level. A close above the $0.5320 resistance zone could send the price higher. The next key resistance is near $0.5450. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-611464 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449" alt="XRP Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_f8ca9a.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If there is a close above the $0.5450 resistance level, there could be a steady increase toward the $0.5560 resistance. Any more gains might send the price toward the $0.5650 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.530 resistance zone, it could start another decline. Initial support on the downside is near the $0.5240 level and the trend line. 
The next major support is at $0.5190 or the 50% Fib retracement level of the upward move from the $0.5080 swing low to the $0.5300 high. If there is a downside break and a close below the $0.5190 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.5120 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.5240 and $0.5190. 
Major Resistance Levels – $0.5300 and $0.5320.

XRP Price Aims for a Bullish Surge: Is a Major Move on the Horizon?

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