💥💥💥 #XRPPrice Prepares for Major Shift: Is a Breakout Imminent?
The XRP price is currently holding strong above the $0.500 support level, consolidating as it prepares for a potential upward move, even as Bitcoin trims recent gains.
- XRP is targeting a rise above the $0.5100 zone.
- The price trades below $0.5095 and the 100-hour Simple Moving Average.
- A bearish trend line is forming with resistance near $0.5090 on the hourly XRP/USD chart (Kraken data).
- A sustained move above the $0.5135 resistance could trigger bullish momentum.
XRP Price Eyes an Upside Break
- After slipping below the $0.5000 support, XRP saw limited losses—less severe than those of #bitcoin☀️ and Ethereum. A low at $0.4948 prompted a recovery, with the price climbing back above $0.4985 and $0.500, clearing the 50% Fibonacci retracement level from the $0.5137 high to the $0.4948 low.
- Currently, XRP remains under $0.5100 and the 100-hour Simple Moving Average. Immediate resistance is anticipated at $0.5065, or near the 61.8% Fibonacci retracement level of the recent drop. The first significant resistance is at $0.5090.
- The next key resistance lies at $0.5135; a clear break above this level could propel XRP toward $0.5200. Continued gains could see the price reach $0.5250 or even $0.5265, with a major resistance at $0.5350.
Potential for Another Decline?
- If XRP struggles to overcome the $0.5090 resistance, it may dip again, with initial support at $0.500. The next major support sits around $0.4950. A close below $0.4950 could lead to further declines, possibly toward the $0.4880 support, with a more significant floor near $0.4740.
Technical Indicators
- Hourly #MACD : Increasing in the bullish zone.
- Hourly RSI: Near the 50 mark, indicating balanced momentum.
Key Levels
- Support: $0.5000 and $0.4950
- Resistance: $0.5090 and $0.5135
