Will XRP Hold Above the 100 SMA and Rise Again?

[CryptoChamp]

XRP's price surged past the $0.5450 barrier, but it's now reversing gains and might remain above the 100-hour SMA.

 

Currently, XRP stock price is above $0.5250 and the 100-hour SMA.

 

The hourly XRP/USD chart indicates a bullish trend line with support at $0.5330.

 

After correcting gains, the pair might rise again unless it closes below the 100-hour SMA.

 

XRP Holding Strong

 

XRP, similar to Bitcoin and Ethereum, stayed bullish after surpassing $0.520. It broke through $0.5320 and $0.5450 resistance levels, reaching a weekly high of $0.5571 before starting to correct. The price dipped below $0.5450 and the 23.6% Fib retracement level from $0.5065 low to $0.5571 high.

 

Despite this, it's still above $0.530 and the 100-hour SMA. The hourly XRP/USD chart shows a bullish trend line with support around $0.5330.

 

Immediate resistance is around $0.5380, with the initial resistance near $0.5450. A close above $0.5450 might boost prices towards the next resistance at $0.5570. Bulls could push the price over this barrier and above $0.5650, with further advances potentially leading to $0.5720.

 

If XRP fails to clear the $0.5450 barrier, it may continue to decline. The trend line and $0.5330 provide initial downward support, aligning with the 50% Fib retracement level from $0.5065 low to $0.5571 high.

 

The next significant support is at $0.5250, with main support around $0.5185. A break and close below $0.5185 might accelerate the downward trend, potentially dropping to $0.5065 soon.

 

Technical Indicators

 

Hourly MACD: The bullish MACD for XRP/USD is losing momentum.

 

Hourly RSI: The RSI for XRP/USD is below 50.

 

Key Support Levels: $0.5330, $0.5185.

 

Key Resistance Levels: $0.5450, $0.5570.

 

 

[Imam]

Rejected 100EDMA!