Ethereum

Rally

Bitcoin

Resistance

XRP price is showing positive signs above the $0.5880 zone. The price could accelerate higher if there is a clear move above the $0.6240 resistance. 
<ul> 
 <li>XRP price started a fresh increase above the $0.5880 zone.</li> 
 <li>The price is now trading above $0.600 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $0.600 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 $0.6240 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-remains-in-uptrend">XRP Price Remains In Uptrend</h2> 
XRP price started another increase above the $0.5880 resistance. It outperformed <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-battles-3550/" target="_blank" rel="noopener ">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-66k/" target="_blank" rel="noopener ">Bitcoin</a> with a decent increase above the $0.600 resistance zone. 
The bulls were able to pump the price toward the $0.6240 resistance zone. A high was formed at $0.6232 and the price is now consolidating gains. There was a minor decline below the $0.6150 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5733 swing low to the $0.6232 high. 
The price is now trading above $0.600 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.600 on the hourly chart of the XRP/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.5733 swing low to the $0.6232 high. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631032 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_81cf52.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If there is a fresh upward move, the price could face resistance near the $0.620 level. The first major resistance is near the $0.6240 level. The next key resistance could be $0.6350. A clear move above the $0.6350 resistance might send the price toward the $0.6550 resistance. The next major resistance is near the $0.6800 level. Any more gains might send the price toward the $0.700 resistance. 
<h2 id="another-dip">Another Dip?</h2> 
If XRP fails to clear the $0.6240 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 level and the trend line. The next major support is at $0.5920. 
If there is a downside break and a close below the $0.5920 level, the price might continue to decline toward the $0.5450 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 – $0.6000 and $0.5920. 
Major Resistance Levels – $0.6240 and $0.6350.

XRP Price Poised for More Upsides: Will the Rally Continue?

Съдържание

NewsBTC

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