Rally

Bitcoin

Resistance

XRP price is attempting to recover above the $0.4750 resistance zone. The price could gain bullish momentum if it settles above the $0.480 resistance zone. 
<ul> 
 <li>XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone.</li> 
 <li>The price is now trading above $0.4750 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might gain bullish momentum if there is a close above the $0.480 resistance.</li> 
</ul> 
<h2 id="xrp-price-recovers-again">XRP Price Recovers Again</h2> 
XRP price remained stable above the $0.4620 support and recently started a decent upward move like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-spikes-63500/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-bounces-3520/" target="_blank" rel="noopener ">Ethereum</a>. The bulls were able to push the price above $0.470 to push the price in a short-term bullish zone. 
There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.4750 resistance zone and the 100-hourly Simple Moving Average. A high was formed at $0.4796 and the price is now consolidating losses. 
The price is testing the 23.6% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. It is now trading above $0.4750 and the 100-hourly Simple Moving Average. 
On the upside, the price is facing resistance near the $0.4790 level. The first major resistance is near the $0.4800 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance might send the price toward the $0.4880 resistance. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627140 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance. 
<h2 id="another-drop">Another Drop?</h2> 
If XRP fails to clear the $0.480 resistance zone, it could start another decline. Initial support on the downside is near the $0.4745 level and the 50% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. 
The next major support is at $0.4730 and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4730 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4640 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 – $0.4745 and $0.4640. 
Major Resistance Levels – $0.4800 and $0.4825.

XRP Price Set To Surge: Breaking This Resistance Could Trigger a Rally

Table of Contents

NewsBTC

Autres articles publiés le 1 juil. 2024

XRP to Skyrocket Next Week? Ethereum (ETH) Not Losing $3,370, Will Solana (SOL) Reach $150 Again?

Previous Bull Oracle Tom Lee Shares His New Prophecies for Bitcoin (BTC) Price

Weekend Trading of Bitcoin Dropped To Historic Lows as ETF Influence Took Hold

Toncoin And Polygon In Hot Waters As Investors Sprint To Grab MoonBag Meme Coin!

US Marshals Service Coinbase Partnership Now Pushed to Enhance Management of Crypto Assets

Philippines Adopts Tether’s USDT for Social Security Payments

Join our free newsletter for daily crypto updates!