Bitcoin

Resistance

XRP price is slowly moving higher from the $0.400 support zone. The price is consolidating and might aim for a decent increase above $0.450. 
<ul> 
 <li>XRP price is attempting a recovery wave above the $0.420 zone.</li> 
 <li>The price is now trading above $0.4250 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance at $0.420 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair might start a decent increase if it clears the $0.4450 and $0.450 resistance levels.</li> 
</ul> 
<h2 id="xrp-price-eyes-recovery">XRP Price Eyes Recovery</h2> 
XRP price remained stable above the $0.40 level and recently started a recovery wave, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-stabilizes-55k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-targets-3320/" target="_blank" rel="noopener ">Ethereum</a>. The price was able to climb above the $0.4120 and $0.4150 resistance levels. 
There was a break above a connecting bearish trend line with resistance at $0.420 on the hourly chart of the XRP/USD pair. The pair even spiked above the 61.8% Fib retracement level of the downward move from the $0.4499 swing high to the $0.4035 low. 
There was a move toward the $0.440 level. The price is now trading above $0.4250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4385 level or the 76.4% Fib retracement level of the downward move from the $0.4499 swing high to the $0.4035 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-628497 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_676f3a.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The first major resistance is near the $0.4450 level. The next key resistance could be $0.450. A clear move above the $0.450 resistance might send the price toward the $0.4650 resistance. The next major resistance is near the $0.4720 level. Any more gains might send the price toward the $0.4840 resistance. 
<h2 id="another-decline">Another 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 $0.420 level. 
The next major support is at $0.4050. If there is a downside break and a close below the $0.4050 level, the price might continue to decline toward the $0.3880 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.4200 and $0.4050. 
Major Resistance Levels – $0.4450 and $0.4500.

XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles?

目录

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