Rally

Bitcoin

Resistance

XRP price is holding gains above the $0.5920 zone. The price could gain bullish momentum if it clears the $0.6120 resistance level. 
<ul> 
 <li>XRP price is consolidating gains below the $0.6120 resistance zone.</li> 
 <li>The price is now trading near $0.6050 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key contracting triangle forming with resistance at $0.6120 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start another increase if it stays above the $0.5920 support zone.</li> 
</ul> 
<h2 id="xrp-price-eyes-fresh-increase">XRP Price Eyes Fresh Increase</h2> 
XRP price remained stable above the $0.580 support zone. It traded as low as $0.5846 and recently started an upward move. There was a clear move above the $0.600 resistance zone, but it lagged momentum like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-recovers-65k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-targets-recovery-3350/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a move above the 50% Fib retracement level of the downward move from the $0.6257 swing high to the $0.5846 low. It is now trading near $0.6050 and the 100-hourly Simple Moving Average. 
If there are more upsides, the price could face resistance near the $0.6120 level. There is also a key contracting triangle forming with resistance at $0.6120 on the hourly chart of the XRP/USD pair. The stated triangle resistance is close to the 61.8% Fib retracement level of the downward move from the $0.6257 swing high to the $0.5846 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631661 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_d96f65.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 $0.6250 level. The next key resistance could be $0.6320. A clear move above the $0.6320 resistance might send the price toward the $0.6450 resistance. The next major resistance is near the $0.6550 level. Any more gains might send the price toward the $0.680 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.6120 resistance zone, it could start another decline. Initial support on the downside is near the $0.6020 level. The next major support is at $0.5920 and the triangle’s trend line zone. 
If there is a downside break and a close below the $0.5920 level, the price might continue to decline toward the $0.580 support in the near term. The next major support sits at $0.5650. 
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 near the 50 level. 
Major Support Levels – $0.5920 and $0.5800. 
Major Resistance Levels – $0.6120 and $0.6250.

XRP Price Positioned for a Surge: Is Another Rally on the Horizon?

Table of Contents

NewsBTC

Muita 26. heinäk. 2024 julkaistuja artikkeleja

Ferrari to Extend Cryptocurrency Payments to Europe by July End

Ledger Introduces New Touchscreen Wallet

Has CrowdStrike’s Stock Bottomed Out After the Global IT Outage Selloff?

Mt. Gox Users Report Surge in Unauthorized Login Attempts

Bitcoin Price Rises to $67,500

Real-world assets evolve finance by tokenizing everything, says Kinto co-founder

Join our free newsletter for daily crypto updates!