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XRP Price Stays Strong – Can Bulls Fuel Another Surge?

XRP value gained tempo for a transfer above the $2.950 resistance. The value is now consolidating positive factors and may begin one other improve above $3.020.

  • XRP value is dealing with hurdles and struggling to clear the $3.050 resistance.
  • The value is now buying and selling above $2.950 and the 100-hourly Simple Moving Average.
  • There is a key contracting triangle forming with help at $2.980 on the hourly chart of the XRP/USD pair (information supply from Kraken).
  • The pair may proceed to rise if it stays above the $2.9150 zone.

XRP Price Eyes More Gains

XRP value managed to remain above the $2.850 degree and began a contemporary improve, beating Bitcoin and Ethereum. The value climbed above the $2.9150 and $2.950 resistance ranges.

The bulls even pumped the value above the $3.00 degree. A high was shaped at $3.0365 and the value is now consolidating positive factors. There was a minor decline and the value examined the 50% Fib retracement degree of the upward transfer from the $2.795 swing low to the $3.036 high.

The value is now buying and selling above $2.950 and the 100-hourly Simple Moving Average. Besides, there’s a key contracting triangle forming with help at $2.980 on the hourly chart of the XRP/USD pair.

If the bulls defend the $2.950 help, the value may try one other improve. On the upside, the value may face resistance close to the $3.020 degree. The first main resistance is close to the $3.050 degree. A transparent transfer above the $3.050 resistance may ship the value towards the $3.120 resistance. Any extra positive factors may ship the value towards the $3.150 resistance. The subsequent main hurdle for the bulls is likely to be close to $3.20.

More Downsides?

If XRP fails to clear the $3.050 resistance zone, it may proceed to maneuver down. Initial help on the draw back is close to the $2.980 degree. The subsequent main help is close to the $2.9150 degree.

If there’s a draw back break and a detailed under the $2.9150 degree, the value may proceed to say no towards $2.880. The subsequent main help sits close to the $2.850 zone, under which the value may acquire bearish momentum.

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 – $2.980 and $2.9150.

Major Resistance Levels – $3.050 and $3.120.

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