Ethereum

Bitcoin

Resistance

Rise

XRP price extended gains above the $0.6220 zone. The price tested the $0.6330 zone before there was a pullback amid declines in BTC and ETH. 
<ul> 
 <li>XRP price started a downside correction from the $0.6330 zone.</li> 
 <li>The price is now trading near $0.600 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a connecting bullish trend line forming with support at $0.5920 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 $0.590 support zone.</li> 
</ul> 
<h2 id="xrp-price-holds-uptrend-support">XRP Price Holds Uptrend Support</h2> 
XRP price extended its increase above the $0.6150 resistance. It even climbed above the $0.6220 resistance before the bears appeared. A high was formed at $0.6330 before <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-falls-65k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-drops-3200-2/" target="_blank" rel="noopener ">Ethereum</a> dragged the market lower. 
There was a move below the $0.6150 and $0.6120 levels. The price declined below the 50% Fib retracement level of the upward move from the $0.5802 swing low to the $0.6330 high. It is now trading near $0.600 and the 100-hourly Simple Moving Average. 
There is also a connecting bullish trend line forming with support at $0.5920 on the hourly chart of the XRP/USD pair. The trend line is close to the 76.4% Fib retracement level of the upward move from the $0.5802 swing low to the $0.6330 high. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631427 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_9b2ee2.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If there is a fresh upward move, the price could face resistance near the $0.6120 level. The first major resistance is near the $0.6200 level. The next key resistance could be $0.6220. A clear move above the $0.6220 resistance might send the price toward the $0.6350 resistance. The next major resistance is near the $0.6500 level. Any more gains might send the price toward the $0.680 resistance. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.6120 resistance zone, it could continue to move down. Initial support on the downside is near the $0.5950 level. The next major support is at $0.5920 and the 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. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $0.5920 and $0.5800. 
Major Resistance Levels – $0.6120 and $0.6220.

XRP Maintains Support: Can It Rise Amid BTC and ETH Declines?

Inhoudsopgave

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