XRP worth began a recent enhance above the $2.050 zone. The worth is now consolidating above $2.080 and is struggling to achieve tempo above the $2.150 resistance.
- XRP worth began a recent enhance above the $2.080 zone.
- The worth is now buying and selling above $2.080 and the 100-hourly Simple Moving Average.
- There is a connecting bullish development line forming with help at $2.080 on the hourly chart of the XRP/USD pair (information supply from Kraken).
- The pair would possibly acquire bullish momentum if it clears the $2.150 resistance zone.
XRP Price Trims Gains
XRP worth began a restoration wave above the $2.050 and $2.080 resistance ranges, like Bitcoin and Ethereum. The worth traded above the $2.10 and $2.120 ranges to start out an honest enhance.
The bulls even pushed the worth towards $2.150 earlier than the bears appeared. A excessive was fashioned at $2.139 and the worth began a draw back correction. There was a transfer beneath the $2.10 and $2.080 help ranges. The worth even dipped beneath the 50% Fib retracement stage of the upward transfer from the $2.038 swing low to the $2.139 excessive.
However, the bulls protected the 76.4% Fib retracement stage of the upward transfer from the $2.038 swing low to the $2.139 excessive. The worth is now buying and selling above $2.080 and the 100-hourly Simple Moving Average.
There can be a connecting bullish development line forming with help at $2.080 on the hourly chart of the XRP/USD pair. On the upside, the worth would possibly face resistance close to the $2.10 stage. The first main resistance is close to the $2.120 stage.
The subsequent resistance is $2.150. A transparent transfer above the $2.150 resistance would possibly ship the worth towards the $2.20 resistance. Any extra positive aspects would possibly ship the worth towards the $2.220 resistance and even $2.250 within the close to time period. The subsequent main hurdle for the bulls is perhaps $2.350.
Another Decline?
If XRP fails to clear the $2.10 resistance zone, it may begin one other decline. Initial help on the draw back is close to the $2.080 stage and the development line. The subsequent main help is close to the $2.060 stage.
If there’s a draw back break and a detailed beneath the $2.060 stage, the worth would possibly proceed to say no towards the $2.0320 help. The subsequent main help sits close to the $2.00 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now dropping tempo within the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now beneath the 50 stage.
Major Support Levels – $2.080 and $2.060.
Major Resistance Levels – $2.10 and $2.120.
