bullish

Resistance

XRP price is struggling to clear the $0.6120 resistance zone. The price must stay above the $0.5940 support to attempt another increase in the near term. 
<ul> 
 <li>XRP price is consolidating near the $0.600 support zone.</li> 
 <li>The price is now trading below $0.6120 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a major bullish trend line forming with support at $0.5945 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could gain bullish momentum if it clears the $0.6120 resistance zone.</li> 
</ul> 
<h2 id="xrp-price-consolidates-above-key-support">XRP Price Consolidates Above Key Support</h2> 
XRP price made a couple of attempts to gain strength above $0.6120 and $0.6150. However, the bulls failed to gain strength for a close above $0.6150. There was a bearish reaction, and the price retested the $0.5950 support. 
A low is formed at $0.5957 and the price is now consolidating, like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stabilizes-3250/" target="_blank" rel="noopener ">Ethereum</a>. There is also a major bullish trend line forming with support at $0.5945 on the hourly chart of the XRP/USD pair. The pair is now trading below $0.6120 and the <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-breakout-0-60/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. 
If there is a fresh increase, the price could face resistance near the $0.6025 level or the 50% Fib retracement level of the downward move from the $0.6091 swing high to the $0.5957 low. 
The first major resistance is near the $0.6060 level or the 76.4% Fib retracement level of the downward move from the $0.6091 swing high to the $0.5957 low. The next key resistance could be $0.6120. A clear move above the $0.6120 resistance might send the price toward the $0.6150 resistance. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-632167 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_62db99.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 $0.6200 level. Any more gains might send the price toward the $0.6350 resistance in the near term. 
<h2 id="more-losses">More Losses?</h2> 
If XRP fails to clear the $0.6120 resistance zone, it could start another decline. Initial support on the downside is near the $0.5950 level. The next major support is at $0.5880. 
If there is a downside break and a close below the $0.5880 level, the price might continue to decline toward the $0.5720 support in the near term. The next major support sits at $0.550. 
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 below the 50 level. 
Major Support Levels – $0.5950 and $0.5880. 
Major Resistance Levels – $0.6060 and $0.6120.

XRP Price Range-Bound: Can It Maintain Support and Break Out?

Inhoudsopgave

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