Bitcoin

Resistance

Gains

XRP price climbed higher and tested the $0.4840 resistance zone. The price corrected gains but the bulls are able to protect the $0.4750 support. 
<ul> 
 <li>XRP price is eyeing an upside break above the $0.4840 resistance zone.</li> 
 <li>The price is now trading above $0.4720 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support at $0.4760 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 $0.4840 resistance.</li> 
</ul> 
<h2 id="xrp-price-corrects-gains">XRP Price Corrects Gains</h2> 
XRP price started a decent upward move above the $0.4740 resistance like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-challenge-63650/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-correction-3420/" target="_blank" rel="noopener ">Ethereum</a>. The bulls were able to push the price above $0.480. However, the bears were active near the $0.4840 resistance zone. 
A high was formed at $0.4839 and the price recently started a downside correction. There was a move below the $0.4800 and $0.4780 levels. The price even spiked below the 50% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high. 
It is now trading above $0.4740 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $0.4760 on the hourly chart of the XRP/USD pair. 
On the upside, the price is facing resistance near the $0.480 level. The first major resistance is near the $0.4840 level. The next key resistance could be $0.4880. A clear move above the $0.4880 resistance might send the price toward the $0.5050 resistance. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627304 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_025a0f.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 $0.5120 level. A close above the $0.5120 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.4840 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4765 level and the trend line. 
The next major support is at $0.4740, the 61.8% Fib retracement level of the upward move from the $0.4695 swing low to the $0.4839 high, and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4740 level, the price might continue to decline toward the $0.4640 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now just below the 50 level. 
Major Support Levels – $0.4765 and $0.4740. 
Major Resistance Levels – $0.4800 and $0.4840.

XRP Price Maintains Support Level: What It Means For The Bulls

Inhoudsopgave

NewsBTC

Andere artikelen gepubliceerd op 2 jul 2024

Surprise Altcoin Decides to Burn a Significant Portion of Its Total Supply

Europe’s largest crypto miner eyes U.S. IPO for 2025

Chainlink Price Shows Bullish Optimism

Buying These 3 Altcoins Could Help You Quit Your 9-5: DOGE Did Not Make The List

Mark Cuban Criticizes Gary Gensler’s Crypto Regulations: Notes Bureaucracy as the Real Issue

Auditchain Labs AG Announces Roll Out of Pacioli.ai for Compliance With MiCA and VARA White Paper...

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!