XRP Price Recovers Again

XRP price remained stable above the $0.4620 support and recently started a decent upward move like Bitcoin and Ethereum.

XRP price showed signs of recovery after it finally cleared the $0.4735 resistance. The price is now attempting to gain bullish momentum if it settles above the $0.480 resistance zone.

XRP price showed signs of recovery after finally surpassing the $0.4735 resistance. The price is now trying to gain bullish momentum if it settles above the $0.480 resistance.

View More XRP Analysis

XRP price remained stable above the $0.4620 support and recently started a decent upward move like Bitcoin and Ethereum. The bulls managed to push the price above $0.470 to move into a short-term bullish zone.

There was a break from a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair. The pair even surpassed the $0.4750 resistance zone and the 100 hourly Simple Moving Average.

A high was formed at $0.4796 and the price is now consolidating losses. The price is testing the 23.6 Fibonacci retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. It is now trading above $0.4750 and the 100 hourly Simple Moving Average.

The price is expected to face resistance on the upside near the $0.4790 level. The first major resistance is near the $0.4800 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance could send the price above the $0.4880 resistance.

The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could push the price higher towards $0.5250. Any more gains could send the price above the $0.5320 resistance.

Another Decline?

If XRP fails to clear the $0.480 resistance zone, it could start another decline. An initial support on the downside is near the $0.4745 level and the 50 Fibonacci retracement level of the upward move from the $0.4694 swing low to the $0.4796 high.

The next major support is near $0.4730 and the 100 hourly Simple Moving low. Average. If there is a downside break and a close below the $0.4730 level, the price could continue to decline. In the mentioned case, the price could fall below the $0.4640 support even in the short term.

Technical Indicators

Hourly MACD – MACD for XRP/USD is now accelerating in the bullish zone.

Hourly RSI (Relative Strength Index) – RSI for XRP/USD now Above the 50 level.

Major Support Levels – $0.4745 and $0.4640.

Major Resistance Levels – $0.4800 and $0.4825.

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