Price Gains Ground: Traders Question XRP Rally

XRP price gains ground, traders question the strength of the rally as it starts a recovery wave above $1.3200 and $1.3220. The price is now consolidating and might aim for a fresh move above $1.3480.

XRP Price Analysis

XRP price remained supported above $1.280 and started a recovery wave, like Bitcoin and Ethereum. The price was able to climb above $1.3120 and $1.320 to enter a short-term positive zone. There was also a move above the 50% Fib retracement level of the downward move from the $1.3678 swing high to the $1.2801 swing low.

Key Levels

• $1.3480: The price might face resistance near this level or the 76.4% Fib retracement level of the downward move from the $1.3678 swing high to the $1.2801 swing low.
• $1.350: A close above this level could send the price to $1.40.
• $1.4120: The next hurdle sits at this resistance level.

Market Sentiment

The bulls even pushed the price above $1.320 but they struggled near $1.3480. The price is now trading above $1.330 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3480 level.

Technical Indicators

The Hourly MACD for XRP/USD is now gaining pace in the bullish zone. The Hourly RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.3240 and $1.3120. Major Resistance Levels – $1.3500 and $1.4000.

Key Takeaways

• XRP price gains ground as it starts a recovery wave above $1.3200 and $1.3220.
• The price might face resistance near $1.3480 or the 76.4% Fib retracement level.
• A close above $1.350 could send the price to $1.40.
• The next hurdle sits at $1.4120.

Frequently Asked Questions

What is the current XRP price?

The current XRP price is trading above $1.330 and the 100-hourly Simple Moving Average.

What are the major resistance levels for XRP?

The major resistance levels for XRP are $1.3500 and $1.4000.