Bitcoin

Resistance

XRP price shows positive signs above the $0.4250 support zone. The price could gain bullish momentum if there is a move above the $0.4450 and $0.450 resistance levels. 
<ul> 
 <li>XRP price is attempting a recovery wave above the $0.4250 zone.</li> 
 <li>The price is now trading above $0.4320 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key rising channel forming with support at $0.4350 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might gain bullish pace if it clears the $0.4450 and $0.450 resistance levels.</li> 
</ul> 
<h2 id="xrp-price-eyes-upside-break">XRP Price Eyes Upside Break</h2> 
XRP price remained in a positive zone above the $0.4150 level and extended its recovery wave, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-hit-rejection-60k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-break-3120/" target="_blank" rel="noopener ">Ethereum</a>. The price was able to climb above the $0.4250 and $0.4320 resistance levels. 
The price even cleared the $0.440 level, but it remained below the $0.4450 resistance zone. A high was formed at $0.4430 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $0.4204 swing low to the $0.4430 high. 
The price is also trading above $0.4320 and the 100-hourly Simple Moving Average. Besides, there is a key rising channel forming with support at $0.4350 on the hourly chart of the XRP/USD pair. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-629128 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_2d554e.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
On the upside, the price is facing resistance near the $0.4450 level. The first major resistance is near the $0.4500 level. The next key resistance could be $0.4550. A clear move above the $0.4550 resistance might send the price toward the $0.4680 resistance. The next major resistance is near the $0.4720 level. Any more gains might send the price toward the $0.480 resistance. 
<h2 id="fresh-decline">Fresh Decline?</h2> 
If XRP fails to clear the $0.4450 resistance zone, it could start another decline. Initial support on the downside is near the $0.4350 level and the channel trend line. 
The next major support is at $0.4310 and the 50% Fib retracement level of the upward move from the $0.4204 swing low to the $0.4430 high. If there is a downside break and a close below the $0.4310 level, the price might continue to decline toward the $0.420 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 – $0.4310 and $0.4200. 
Major Resistance Levels – $0.4450 and $0.4500.

XRP Price Poised for a Bullish Path Unless This Support Paves Way

목차

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