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Home Market & Analysis

XRP Price Poised for Steady Rise: Can It Maintain Its Uptrend?

n70products by n70products
August 23, 2024
in Market & Analysis
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XRP worth is consolidating positive aspects above the $0.5850 stage. The worth might begin a serious improve if it clears the $0.6150 resistance zone.

  • XRP worth is eyeing a contemporary improve from the $0.5850 stage.
  • The worth is now buying and selling above $0.5980 and the 100-hourly Easy Shifting Common.
  • There’s a connecting bullish development line forming with assist at $0.600 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
  • The pair might begin a contemporary improve if it clears the $0.6150 resistance zone.

XRP Worth Goals Greater

XRP worth shaped a base above the $0.5850 stage. The worth began a gradual improve above the $0.5880 and $0.5920 ranges like Bitcoin and Ethereum.

There’s a bullish continuation sample forming from the $0.5850 stage. The worth gained tempo for a transfer above the 50% Fib retracement stage of the downward transfer from the $0.6149 swing excessive to the $0.5853 low. The worth is now buying and selling above $0.5980 and the 100-hourly Easy Shifting Common.

There’s additionally a connecting bullish development line forming with assist at $0.600 on the hourly chart of the XRP/USD pair. If there may be an upside continuation, the value might face hurdles close to the $0.6050 stage.

The 61.8% Fib retracement stage of the downward transfer from the $0.6149 swing excessive to the $0.5853 low can be close to the $0.6050 stage. The primary main resistance is close to the $0.6080 stage. The following key resistance could possibly be $0.6150.

XRP Price

A transparent transfer above the $0.6150 resistance would possibly ship the value towards the $0.6220 resistance. The following main resistance is close to the $0.6350 stage. Any extra positive aspects would possibly ship the value towards the $0.6550 resistance and even $0.6880 within the close to time period.

One other Pullback?

If XRP fails to clear the $0.6050 resistance zone, it might begin a short-term pullback. Preliminary assist on the draw back is close to the $0.600 stage. The following main assist is at $0.5880.

If there’s a draw back break and an in depth beneath the $0.5880 stage, the value would possibly proceed to say no towards the $0.5650 assist within the close to time period. The following main assist sits at $0.5550.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for XRP/USD is now above the 50 stage.

Main Assist Ranges – $0.600 and $0.5850.

Main Resistance Ranges – $0.6050 and $0.6220.



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Tags: MaintainPoisedPriceRiseSteadyUptrendXRP
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