XRP worth began a powerful enhance above the $2.850 zone. The worth is now correcting positive factors and displaying constructive indicators above $3.00.
- XRP worth began a draw back correction from the $3.220 zone.
- The worth is now buying and selling above $3.00 and the 100-hourly Simple Moving Average.
- There was a break beneath a connecting bullish development line with assist at $3.150 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
- The pair may begin a recent enhance if it clears the $3.150 resistance zone.
XRP Price Regains Momentum
XRP worth began a recent enhance from the $2.650 zone, outperforming Bitcoin and Ethereum. The worth rallied above the $2.85 and $3.00 resistance ranges. It even surged above $3.050.
A excessive was fashioned at $3.214 and the worth not too long ago corrected some positive factors. There was a transfer beneath the $3.15 stage. The worth dipped beneath the 23.6% Fib retracement stage of the upward transfer from the $2.6562 swing low to the $3.214 excessive.
There was a break beneath a connecting bullish development line with assist at $3.150 on the hourly chart of the XRP/USD pair. The worth is now buying and selling above $3.00 and the 100-hourly Simple Moving Average.
On the upside, the worth may face resistance close to the $3.085 stage. The first main resistance is close to the $3.150 stage. The subsequent resistance is $3.20. A transparent transfer above the $3.20 resistance may ship the worth towards the $3.220 resistance. Any extra positive factors may ship the worth towards the $3.250 resistance and even $3.350 in the close to time period. The subsequent main hurdle for the bulls could be $3.450.
Another Decline?
If XRP fails to clear the $3.0850 resistance zone, it might begin one other decline. Initial assist on the draw back is close to the $3.00 stage. The subsequent main assist is close to the $2.9350 stage or the 50% Fib retracement stage of the upward transfer from the $2.6562 swing low to the $3.214 excessive.
If there’s a draw back break and an in depth beneath the $2.9350 stage, the worth may proceed to say no towards the $2.880 assist. The subsequent main assist sits close to the $2.750 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now dropping tempo in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now beneath the 50 stage.
Major Support Levels – $3.00 and $2.9350.
Major Resistance Levels – $3.0850 and $3.150.
