XRP price is gaining pace above the $0.550 resistance. The bulls seem to be aiming for a move above the $0.60 and $0.62 resistance levels. 
<ul> 
 <li>XRP started a fresh increase above the $0.550 resistance level.</li> 
 <li>The price is now trading above $0.575 and the 100 simple moving average (4 hours).</li> 
 <li>There was a break above a major contracting triangle with resistance at $0.560 on the 4-hour chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could start a fresh rally if there is a close above the $0.60 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-restarts-increase">XRP Price Restarts Increase</h2> 
In the past few days, XRP price recovered higher from the $0.530 zone. There was a move above the $0.545 and $0.550 resistance levels. However, the upside was less compared to <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-58k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-primed-to-hit-3-5k/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a break above a major contracting triangle with resistance at $0.560 on the 4-hour chart of the XRP/USD pair. The pair traded as high as $0.5971, and it is currently consolidating gains. It tested the 23.6% Fib retracement level of the upward move from the $0.5290 swing low to the $0.5971 high. 
Ripple’s token price is now trading above $0.575 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.580 zone. The first key resistance is near $0.600, above which the price could rise toward the $0.620 resistance. A close above the $0.620 resistance zone could spark a strong increase. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-583667" src="https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461" alt="XRP Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/XRP_Price_b76cd3.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/XRPUSD/" target="_blank" rel="noopener nofollow">XRPUSD on TradingView.com</a> 
The next key resistance is near $0.650. If the bulls remain in action above the $0.650 resistance level, there could be a rally toward the $0.685 resistance. Any more gains might send the price toward the $0.70 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.60 resistance zone, it could start another decline. Initial support on the downside is near the $0.575 zone. 
The next major support is at $0.5630 or the 50% Fib retracement level of the upward move from the $0.5290 swing low to the $0.5971 high. If there is a downside break and a close below the $0.5630 level, the price might accelerate lower. In the stated case, the price could retest the $0.5350 support zone. 
Technical Indicators 
4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 60 level. 
Major Support Levels – $0.575, $0.563, and $0.5350. 
Major Resistance Levels – $0.5950, $0.600, and $0.620.

XRP Price Prediction: Momentum Reignites As Bulls Aim For $0.75

목차

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