XRP Price Gains Speed: Could The Surge Reach $0.80?
13 Novembro 2024 - 1:18AM
NEWSBTC
XRP price is up over 10% and moving higher above the $0.620 support
zone. The price tested the $0.740 zone and is currently correcting
gains. XRP price started a decent increase above the $0.620
resistance. The price is now trading above $0.6250 and the
100-hourly Simple Moving Average. There is a key bullish trend line
forming with support at $0.6180 on the hourly chart of the XRP/USD
pair (data source from Kraken). The pair could start another
increase if it stays above the $0.6200 support zone. XRP Price Eyes
More Upsides XRP price remained supported above the $0.5850 level.
It formed a base and started a fresh increase above $0.6000. It
outperformed Bitcoin and Ethereum in the past two sessions, with a
move above the $0.650 resistance. The price even climbed above the
$0.70 level before the bears appeared. A high was formed at $0.740
before there was a pullback. It dipped below $0.7200 and tested
$0.700. The price traded toward the 50% Fib retracement level of
the upward move from the $0.6063 swing low to the $0.7400 high. The
price is now trading above $0.6250 and the 100-hourly Simple Moving
Average. There is also a key bullish trend line forming with
support at $0.6180 on the hourly chart of the XRP/USD pair. The
trend line is close to the 76.4% Fib retracement level of the
upward move from the $0.6063 swing low to the $0.7400 high. On the
upside, the price might face resistance near the $0.700 level. The
first major resistance is near the $0.7080 level. The next key
resistance could be $0.7250. A clear move above the $0.7250
resistance might send the price toward the $0.740 resistance. Any
more gains might send the price toward the $0.7550 resistance or
even $0.7650 in the near term. The next major hurdle might be
$0.780. Another Drop? If XRP fails to clear the $0.7080 resistance
zone, it could start another decline. Initial support on the
downside is near the $0.6750 level. The next major support is near
the $0.6250 level and the trend line. If there is a downside break
and a close below the $0.6250 level, the price might continue to
decline toward the $0.6050 support in the near term. The next major
support sits near the $0.600 zone. Technical Indicators Hourly MACD
– The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now
above the 50 level. Major Support Levels – $0.6750 and $0.6250.
Major Resistance Levels – $0.7080 and $0.7250.
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