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XRP Price Eyes Lift-Off as Price Holds Strong — What’s Next?

XRP worth began a gentle improve above $2.150. The worth is now consolidating good points and would possibly intention for one more improve if it clears $2.250.

  • XRP worth began a recent improve above the $2.20 zone.
  • The worth is now buying and selling above $2.180 and the 100-hourly Simple Moving Average.
  • There is a bullish development line forming with assist at $2.170 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The pair may proceed to maneuver up if it clears $2.250.

XRP Price Eyes More Gains

XRP worth began an honest upward transfer above $2.050 and $2.080, beating Bitcoin and Ethereum. The worth gained tempo for a transparent transfer above the $2.150 resistance.

The bulls even pumped the value above the $2.20 barrier. A high was fashioned at $2.286 and the value began a short-term draw back correction. There was a transfer towards the 23.6% Fib retracement degree of the upward transfer from the $1.817 swing low to the $2.286 high.

The worth is now buying and selling above $2.180 and the 100-hourly Simple Moving Average. Besides, there’s a bullish development line forming with assist at $2.170 on the hourly chart of the XRP/USD pair.

If there’s a recent upward transfer, the value would possibly face resistance close to the $2.250 degree. The first main resistance is close to the $2.280 degree, above which the value may rise and check $2.320. A transparent transfer above the $2.320 resistance would possibly ship the value towards the $2.420 resistance. Any extra good points would possibly ship the value towards the $2.450 resistance. The subsequent main hurdle for the bulls may be close to $2.50.

Another Drop?

If XRP fails to clear the $2.250 resistance zone, it may begin a recent decline. Initial assist on the draw back is close to the $2.170 degree and the development line. The subsequent main assist is close to the $2.120 degree.

If there’s a draw back break and a detailed beneath the $2.120 degree, the value would possibly proceed to say no towards $2.050 and the 50% Fib retracement degree of the upward transfer from the $1.817 swing low to the $2.286 high. The subsequent main assist sits close to the $2.00 zone, beneath which the value may proceed decrease towards $1.9250.

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 – $2.170 and $2.120.

Major Resistance Levels – $2.250 and $2.320.

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