XRP Price Moves Up — Hurdles Ahead Could Limit | Crypto News
XRP price began a respectable upward transfer from the $2.150 zone. The price is now consolidating positive aspects and may face hurdles close to the $2.285 zone.
- XRP price began a contemporary increase above the $2.220 zone.
- The price is now trading above $2.220 and the 100-hourly Simple Moving Average.
- There is a key bullish development line forming with assist at $2.20 on the hourly chart of the XRP/USD pair (information source from Kraken).
- The pair might begin one other decline if it fails to clear the $2.2850 resistance zone.
XRP Price Restarts Increase
XRP price discovered assist close to the $2.150 stage and began a contemporary increase, like Bitcoin and Ethereum. The price was in a position to get well losses and climbed above the $2.220 resistance stage.
The bulls had been in a position to push the price above the $2.250 stage. There was a spike above the 61.8% Fib retracement stage of the downward transfer from the $2.327 swing high to the $2.148 low. However, the bears had been lively close to the $2.2850 stage.
The price failed to surpass the 76.4% Fib retracement stage of the downward transfer from the $2.327 swing high to the $2.148 low. The price is now trading above $2.220 and the 100-hourly Simple Moving Average. Besides, there’s a key bullish development line forming with assist at $2.20 on the hourly chart of the XRP/USD pair.
On the upside, the price may face resistance close to the $2.2580 stage. The first main resistance is close to the $2.2850 stage. The next resistance is $2.320. A transparent transfer above the $2.320 resistance may ship the price toward the $2.350 resistance. Any more positive aspects may ship the price toward the $2.40 resistance or even $2.420 in the close to time period. The next main hurdle for the bulls is likely to be $2.50.
Fresh Decline?
If XRP fails to clear the $2.2850 resistance zone, it might begin one other decline. Initial assist on the draw back is close to the $2.220 stage. The next main assist is close to the $2.20 stage and the development line.
If there’s a draw back break and a close below the $2.20 stage, the price may proceed to decline toward the $2.150 assist. The next main assist sits close to the $2.120 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now shedding tempo in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 stage.
Major Support Levels – $2.220 and $2.20.
Major Resistance Levels – $2.2850 and $2.320.
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