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XRP Price Above $1.50 Could Flip Sentiment And Fuel Recovery

XRP worth began a restoration wave above $1.50 however failed close to $1.9250. The worth is now consolidating and may intention for a recent transfer above $1.50.

  • XRP worth began a restoration wave above the $1.420 zone.
  • The worth is now buying and selling above $1.40 and the 100-hourly Simple Moving Average.
  • There is a bearish development line forming with resistance at $1.4550 on the hourly chart of the XRP/USD pair (information supply from Kraken).
  • The pair may proceed to maneuver up if it settles above $1.50.

XRP Price Faces Key Hurdle

XRP worth remained supported above $1.20 and began a restoration wave, like Bitcoin and Ethereum. The worth was in a position to climb above $1.250 and $1.320 to enter a short-term optimistic zone.

There was additionally a transfer above the 50% Fib retracement degree of the downward transfer from the $1.6320 swing high to the $1.1356 low. The bulls even pushed the value above $1.45 however they struggled to maintain the value above $1.50. Besides, there’s a bearish development line forming with resistance at $1.4550 on the hourly chart of the XRP/USD pair.

The worth is now buying and selling above $1.40 and the 100-hourly Simple Moving Average. If there’s a recent upward transfer, the value may face resistance close to the $1.4550 degree. The first main resistance is close to the $1.4660 degree. An in depth above $1.4660 may ship the value to $1.50.

The subsequent hurdle sits at $1.5150 or the 76.4% Fib retracement degree of the downward transfer from the $1.6320 swing high to the $1.1356 low. A transparent transfer above the $1.5150 resistance may ship the value towards the $1.620 resistance. Any extra good points may ship the value towards the $1.650 resistance.

Another Drop?

If XRP fails to clear the $1.50 resistance zone, it may begin a recent decline. Initial help on the draw back is close to the $1.40 degree. The subsequent main help is close to the $1.3850 degree.

If there’s a draw back break and a detailed under the $1.3850 degree, the value may proceed to say no towards $1.330. The subsequent main help sits close to the $1.320 zone, under which the value may proceed decrease towards $1.250.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 degree.

Major Support Levels – $1.40 and $1.3850.

Major Resistance Levels – $1.50 and $1.5150.

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