Ethereum

Resistance

Higher

XRP price extended its increase above the $0.440 resistance zone. The price is showing positive signs and might rise further above the $0.4550 resistance level. 
<ul> 
 <li>XRP price is attempting a recovery wave above the $0.4400 zone.</li> 
 <li>The price is now trading above $0.440 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $0.4390 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could extend gains if there is a close above the $0.450 resistance level.</li> 
</ul> 
<h2 id="xrp-price-aims-higher">XRP Price Aims Higher</h2> 
XRP price remained in a positive zone above the $0.4250 level and extended its recovery wave, like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-rises-3200/" target="_blank" rel="noopener ">Ethereum</a> and outperformed <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-falls-56k/" target="_blank" rel="noopener ">Bitcoin</a>. The price was able to climb above the $0.4320 and $0.4400 resistance levels. 
The price even cleared the $0.4450 level and spiked above $0.450. A high was formed at $0.4547 and the price is now consolidating gains. There was a minor decline below the $0.4450 level. The price tested the 50% Fib retracement level of the upward move from the $0.4307 swing low to the $0.4547 high. 
The price is now trading above $0.440 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $0.4390 on the hourly chart of the XRP/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.4307 swing low to the $0.4547 high. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-629390 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_595cfc.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 $0.4550 level. The first major resistance is near the $0.4620 level. The next key resistance could be $0.4650. A clear move above the $0.4650 resistance might send the price toward the $0.480 resistance. The next major resistance is near the $0.4880 level. Any more gains might send the price toward the $0.500 resistance. 
<h2 id="are-dips-supported">Are Dips Supported?</h2> 
If XRP fails to clear the $0.4550 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.4450 level. 
The next major support is at $0.4390 and the trend line. If there is a downside break and a close below the $0.4390 level, the price might continue to decline toward the $0.4220 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 – $0.4450 and $0.4390. 
Major Resistance Levels – $0.4550 and $0.4800.

XRP Price Shows Increased Strength: Can It Sustain The Recovery?

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