Bitcoin

Resistance

Higher

XRP price is consolidating above the $0.420 support zone. The price could gain bullish momentum if there is a move above the $0.440 and $0.4450 resistance levels. 
<ul> 
 <li>XRP price is attempting a recovery wave above the $0.4220 zone.</li> 
 <li>The price is now trading above $0.430 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a short-term contracting triangle forming with resistance at $0.4370 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might start a decent upward move if it clears the $0.440 and $0.450 resistance levels.</li> 
</ul> 
<h2 id="xrp-price-aims-higher">XRP Price Aims Higher</h2> 
XRP price formed a base above the $0.4050 level and recently started a recovery wave, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-targets-recovery-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-upside-3110/" target="_blank" rel="noopener ">Ethereum</a>. The price was able to climb above the $0.420 and $0.4250 resistance levels. 
The bulls were able to push the price above the 61.8% Fib retracement level of the downward move from the $0.4500 swing high to the $0.4035 low. However, the bears seem to be active near the $0.4380 and $0.440 levels. There is also a short-term contracting triangle forming with resistance at $0.4370 on the hourly chart of the XRP/USD pair. 
The pair is now trading above $0.4270 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4370 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-628758 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_fe4185.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 $0.4400 level or the 76.4% Fib retracement level of the downward move from the $0.4500 swing high to the $0.4035 low. The next key resistance could be $0.450. A clear move above the $0.450 resistance might send the price toward the $0.4720 resistance. The next major resistance is near the $0.480 level. Any more gains might send the price toward the $0.4880 resistance. 
<h2 id="another-drop">Another Drop?</h2> 
If XRP fails to clear the $0.440 resistance zone, it could start another decline. Initial support on the downside is near the $0.4320 level. 
The next major support is at $0.420. If there is a downside break and a close below the $0.420 level, the price might continue to decline toward the $0.4050 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 above the 50 level. 
Major Support Levels – $0.4200 and $0.4050. 
Major Resistance Levels – $0.4400 and $0.4500.

XRP Price Set For Comeback: Breaking This Resistance Could Trigger Recovery

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Andre artikler udgivet 10. jul. 2024

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