XRP Price Surges Over 25% Above $1.00 Support Level
XRP price has increased over 25%, surpassing the $1.00 support zone. Further acceleration may occur if it clears the $1.1380 resistance zone.
- XRP started a significant rise above the $0.880 resistance.
- The current trading price is above $1.00 and the 100-hourly Simple Moving Average.
- A break occurred above a bearish trend line with resistance at $1.050 on the hourly chart for the XRP/USD pair (data from Kraken).
- The pair may initiate another increase if it remains above the $1.00 support zone.
XRP Price Rallies Over 50%
XRP has maintained support above the $0.700 level, forming a base and rising above $0.8800. It outperformed Bitcoin and Ethereum, surging over 50%.
The price climbed above $1.00 before facing downward pressure, reaching a high of $1.2747 before pulling back. It dipped below $1.150, tested $1.100, and formed a low at $0.9988, after which it began to rise again.
Currently, the price is above the $1.050 resistance and the 100-hourly Simple Moving Average. On the upside, resistance may be encountered near the $1.1380 level, close to the 50% Fibonacci retracement level from the $1.2747 swing high to the $0.9988 low.
The first significant resistance is near $1.200, coinciding with the 76.4% Fibonacci retracement level. The next key resistance could be $1.250; a clear move above this level may push the price toward $1.320, with potential further gains targeting $1.3850 or even $1.40 in the near term. The next major hurdle is at $1.50.
Are Dips Limited?
If XRP does not surpass the $1.1380 resistance zone, a downside correction may begin. Initial support is located near the $1.050 level, with major support at $1.00.
A breach and close below the $1.00 level could lead to a decline toward the $0.9320 support level, followed by additional support near the $0.880 zone.
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 currently above the 50 level.
Major Support Levels – $1.0500 and $1.0000.
Major Resistance Levels – $1.1380 and $1.2000.