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XRP Price Rally Accelerates, $1.50 Resistance Could Decide Next Move

XRP worth began a good improve above $1.40. The worth is now consolidating positive aspects and may intention for extra positive aspects above the $1.50 zone.

  • XRP worth began a good upward transfer above the $1.420 zone.
  • The worth is now buying and selling above $1.4250 and the 100-hourly Simple Moving Average.
  • There was a break above a key bearish development line with resistance at $1.3820 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The pair may proceed to maneuver up if it settles above $1.50.

XRP Price Rally Reaches Resistance

XRP worth began a contemporary upward transfer above $1.40 and $1.420, like Bitcoin and Ethereum. The worth gained tempo for a transparent transfer above the $1.450 resistance.

There was a break above a key bearish development line with resistance at $1.3820 on the hourly chart of the XRP/USD pair. The bulls even pumped the value towards the $1.50 zone. A high was fashioned at $1.4936 and the value began a consolidation section. There was a drop beneath the 23.6% Fib retracement stage of the upward transfer from the $1.3125 swing low to the $1.4936 high.

The worth is now buying and selling above $1.420 and the 100-hourly Simple Moving Average. If there’s a contemporary upward transfer, the value may face resistance close to the $1.460 stage. The first main resistance is close to the $1.50 stage, above which the value may rise and take a look at $1.5450. A transparent transfer above the $1.5450 resistance may ship the value towards the $1.650 resistance. Any extra positive aspects may ship the value towards the $1.720 resistance. The subsequent main hurdle for the bulls could be close to $1.80.

Another Decline?

If XRP fails to clear the $1.460 resistance zone, it may begin a contemporary decline. Initial help on the draw back is close to the $1.420 stage. The subsequent main help is close to the $1.4030 stage or the 50% Fib retracement stage of the upward transfer from the $1.3125 swing low to the $1.4936 high.

If there’s a draw back break and an in depth beneath the $1.4030 stage, the value may proceed to say no towards $1.3820. The subsequent main help sits close to the $1.3430 zone, beneath which the value may proceed decrease towards $1.320.

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 above the 50 stage.

Major Support Levels – $1.420 and $1.4030.

Major Resistance Levels – $1.460 and $1.50.

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