XRP Price Surges Above $1.40, Eyes Resistance at $1.450
XRP price surged above $1.45 and $1.50 resistance levels, currently consolidating near $1.40 with potential for further gains.
- XRP initiated a fresh surge above the $1.40 resistance level.
- The price trades above $1.350 and the 100-hourly Simple Moving Average.
- A new bearish trend line forms with resistance at $1.450 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair shows positive signs and may extend its rally above $1.450 resistance.
XRP Price Holds Gains
XRP established a base above $1.250, increasing past the $1.350 and $1.40 resistance levels. The price also surpassed $1.50, outperforming Ethereum and Bitcoin in recent days.
A high of $1.6339 was recorded before a pullback occurred. The price fell below the $1.50 support, reaching a low of $1.3007 before rising again. It has moved above the 23.6% Fibonacci retracement level of the decline from the $1.6339 high to the $1.3007 low.
The current trading price is above $1.40 and the 100-hourly Simple Moving Average. Resistance may occur around $1.420, with significant resistance at $1.450.
A bearish trend line is forming with resistance at $1.450, close to the 50% Fibonacci retracement level from the $1.6339 high to the $1.3007 low.
The next key resistance could be $1.500. A clear move above this level may push the price toward $1.5550, with potential targets of $1.620 or $1.650. Major hurdles for bulls are $1.750 and $1.80.
Are Dips Limited?
If XRP does not surpass the $1.450 resistance zone, it may begin a downside correction. Initial support is near $1.3450, with major support at $1.320.
A downside break and close below $1.320 could lead to declines toward the $1.300 support, with further support near $1.240.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is above 50.
Major Support Levels – $1.4200 and $1.4000.
Major Resistance Levels – $1.4500 and $1.5000.