đ„đ„đ„ $XRP Price Gains Momentum: Is a Surge to $0.80 Possible?
XRP Price Surges Over 10%, Eyeing New Highs Above $0.6603 Support
- XRP has seen a strong gain of over 10%, maintaining a solid position above the $0.6603 support zone and recently testing resistance around $0.740. Although a slight correction has followed, the outlook remains bullish.
1. XRP began a strong upward move above the $0.6603 resistance.
2. Currently trading above $0.6650 and above the 100-hourly Simple Moving Average.
3. A key bullish trend line provides support at $0.6603 on the XRP/USD hourly chart (data from Kraken).
4. If the price stays above the $0.6603 support zone, it could spark another rally.
XRP Price Targeting New Highs
- XRP held firmly above $0.6300, forming a base before launching a fresh rally above $0.6500. It has outperformed both #bitcoinâïž and Ethereum recently, rising above the $0.700 level.
- XRP peaked near $0.740 before pulling back to $0.700, finding support around the 50% Fib level from the $0.630 swing low. It currently holds above $0.665 & the 100-hour SMA, with additional support at $0.660 near the 76.4% Fib level.
- Resistance lies around $0.700, with the first major barrier at $0.7080. If XRP clears this level, the next targets are $0.7250 and then $0.740. A sustained breakout beyond $0.7250 could propel the price toward $0.7550 or even $0.7650, with a key hurdle at $0.780.
Potential Downside Risks
- If XRP fails to break the $0.7080 resistance, it may face a decline. Initial support is around $0.6750, with a stronger level at $0.6650 & the trend line at $0.6603. A decisive drop below $0.6603 could drive the price toward $0.6400, with additional support at $0.6300.
Technical Indicators
- Hourly #MACD â Slowing down in the bullish zone.
- Hourly RSI â Positioned above 50, reflecting bullish momentum.
- Key Support Levels â $0.6750, $0.6603
- Key Resistance Levels â $0.7080, $0.7250
XRPâs performance suggests potential for higher gains if it maintains its position above critical support zones.
