The XRP rate is rising above resistance at $0.6320. Price is over 6% higher than Bitcoin and could rise even further to $0.6750.
- The XRP rate is rising above $0.6320.
- Now, the price has traded above $0.640 and 100 hourly Simple Moving average.
- The hourly chart shows a strong bullish line with support near $0.640 (data). source Kraken (from Kraken)
- This pair may rise even higher if they clear the resistance level of $0.6580.
The XRP price has risen over 6%
The XRP rate formed a new base over the $0.60 area and began a renewed increase. It moved into the positive zone after clearing resistance levels $0.6120 and $0.6150. Over 6% of the price has been gained, which is a significant increase. Bitcoin The following are some examples of how to get started: EthereumIt is possible to aim higher.
The price has now reached a high of $0.6582. It is consolidating its gains. This is above the level where the 23.6% Fib Retracement was applied to the upward movement from the $0.6113 low swing up until the $0.6582 peak.
Now, the price has risen above $0.640 as well as the 100 hourly simple moving average. On the hourly chart for the pair XRP/USD, a bullish trendline is also developing with support near $0.640. The price may face resistance at the level of $0.6580 if there’s a new increase.
Near the level of $0.6650, we have our first significant resistance. The level of resistance near $0.6650 is the first significant one. next The key resistance might be at $0.6720. The price could be sent to the $0.6850 barrier if the price clears the $0.6720 level.
You can also find out more about the following: next The major resistance level is around $0.6940. In the short term, any further gains could send the price towards the resistance of $0.700 or even $0.720.
Are Dips Supported?
If XRP is unable to break through the $0.6580 zone of resistance, it might start a downward correction. Support for the initial downside correction is located near the $0.6450 mark. Initial support for the downside nears $0.6450. next Major support comes in at $0.640 or trendline.
The price could continue to fall in the short term if there’s a break below $0.640 and close below that level. The next The major support is $0.6220, or the Fib level that represents the 76.4% retracement of the move upwards from the swing low at $0.6113 to the high of $0.6582.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $0.6400 and $0.6350.
Major Resistance Levels – $0.6580 and $0.6720.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com