Ethereum

bullish

Resistance

XRP price started a major increase above $0.500 after court’s ruling. The price is up over 25% and eyes more upsides above the $0.640 resistance. 
<ul> 
 <li>XRP price started a strong increase above the $0.500 and $0.550 levels.</li> 
 <li>The price is now trading above $0.5880 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support at $0.5280 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rise if it clears the $0.640 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-starts-fresh-surge">XRP Price Starts Fresh Surge</h2> 
XRP price formed a base above $0.450 and started a major increase beating <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-weakness-2550/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-upsides-58k/" target="_blank" rel="noopener ">Bitcoin</a>. The price was able to surpass the $0.5150 and $0.550 resistance levels. 
It gained over 25% and broke many hurdles near the $0.600 level. A high was formed at $0.6473 and the price recently corrected some gains. There was a move below the $0.600 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.4922 swing low to the $0.6477 high. 
However, the bulls are active near $0.5880. It is still trading above $0.600 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.6250 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-633938 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/08/XRP_Price_4b3157.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The first major resistance is near the $0.6350 level. The next key resistance could be $0.640. A clear move above the $0.640 resistance might send the price toward the $0.6550 resistance. The next major resistance is near the $0.6880 level. Any more gains might send the price toward the $0.700 resistance or even $0.720 in the near term. 
<h2 id="are-dips-supported">Are Dips Supported?</h2> 
If XRP fails to clear the $0.620 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 level. The next major support is at $0.5880. 
If there is a downside break and a close below the $0.5880 level, the price might continue to decline toward the $0.570 support or the 50% Fib retracement level of the upward move from the $0.4922 swing low to the $0.6477 high. The next major support sits at $0.540. 
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 – $0.600 and $0.5880. 
Major Resistance Levels – $0.6200 and $0.6400.

XRP Price Rallies 25%: Can This Breakout Continue?

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