Resistance

XRP price started a decent recovery wave above $0.4850. The price reclaimed the 100-hourly SMA and might aim for more upsides. 
<ul> 
 <li>XRP price found support at $0.4600 and started a recovery wave.</li> 
 <li>The price is now trading above $0.4850 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $0.4860 on the hourly chart of the XRP/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rise unless it fails to stay above the $0.4820 support zone.</li> 
</ul> 
<h2 id="xrp-price-signals-recovery">XRP Price Signals Recovery</h2> 
XRP price extended losses below the $0.4650 level like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-decline-65k/" target="_blank" rel="noopener ">Bitcoin</a>. However, the bulls took a stand near $0.4600, and the price recently started a decent recovery wave like <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-decline-3420/" target="_blank" rel="noopener ">Ethereum</a>. 
There was a move above the $0.4680 and $0.4720 resistance levels. Besides, there was a break above a key bearish trend line with resistance at $0.4860 on the hourly chart of the XRP/USD pair. The pair even spiked above the $0.5000 zone. 
A high was formed at $0.5049 and the price is now correcting gains. There was a move below the $0.4950 support zone. There was a drop below the 23.6% Fib retracement level of the upward move from the $0.4600 swing low to the 0.5049 high. 
The price is now trading above $0.4850 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4950 level. The first key resistance is near $0.4980. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-624963 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461" alt="XRP Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/XRP_Price_e8dd99.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher. The next key resistance is near $0.5250. If there is a close above the $0.5250 resistance level, there could be a steady increase toward the $0.5320 resistance. Any more gains might send the price toward the $0.5500 resistance. 
<h2 id="another-decline">Another Decline?</h2> 
If XRP fails to clear the $0.4980 resistance zone, it could continue to move down. Initial support on the downside is near the $0.4850 level and the 100-hourly Simple Moving Average. 
The next major support is at $0.4720. If there is a downside break and a close below the $0.4720 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.460 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. 
Major Support Levels – $0.4850 and $0.4720. 
Major Resistance Levels – $0.4980 and $0.5050.

XRP Price Recovers Past 100 SMA: Bullish Indicators Ahead?

Table of Contents

NewsBTC

Other articles published on Jun 17, 2024

1 billion dollars at stake! Ethereum dominates the crypto market in May!

Shiba Shootout Brings The Most Trending Meme Coin Narrative of 2024

Bitget Wallet Launches Smart Money Feature for Solana, Introduces Cross-Chain Transactions

Nigeria Drops Tax Evasion Charges Against Binance Executives

Notcoin (NOT) Crashed 14% Despite Positive Developments, Community Reacts

Qubetics Whitelist Checkmates Polkadot And Chainlink; Can The Cryptos Fight Off TICS Domination?

Join our free newsletter for daily crypto updates!