XRP price started a fresh increase from the $0.540 zone. The price is now rising and eyeing an upside break above the $0.600 resistance zone.
<ul>
 <li>XRP price started a fresh increase above the $0.580 zone.</li>
 <li>The price is now trading above $0.580 and the 100-hourly Simple Moving Average.</li>
 <li>There is a key contracting triangle forming with support at $0.5880 on the hourly chart of the XRP/USD pair (data source from Kraken).</li>
 <li>The pair could extend gain bullish momentum if it clears the $0.60 resistance zone.</li>
</ul>
<h2 id="xrp-price-eyes-more-upsides">XRP Price Eyes More Upsides</h2>
XRP price remained stable above the $0.540 level and started a fresh increase. There was a move above the $0.5650 and $0.5720 resistance levels but lagged <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-climbs-3700/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-regains-68k/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a>.
The price climbed above the 50% Fib retracement level of the downward move from the $0.6374 swing high to the $0.5404 low. The current price action is positive above the 100-hourly Simple Moving Average, but the bulls are now facing resistance near the $0.600 level.
There is also a key contracting triangle forming with support at $0.5880 on the hourly chart of the XRP/USD pair. The pair is now trading above $0.5880 and the 100-hourly Simple Moving Average.
<a href="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461" rel="noopener noreferrer nofollow"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-630851" src="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461" alt="XRP Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/XRP_Price_91b41d.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a>
If there is a fresh upward move, the price could face resistance near the $0.600 level. The first major resistance is near the $0.6150 level. The next key resistance could be $0.6370. A clear move above the $0.6370 resistance might send the price toward the $0.650 resistance. The next major resistance is near the $0.6665 level. Any more gains might send the price toward the $0.680 resistance.
<h2 id="another-drop">Another Drop?</h2>
If XRP fails to clear the $0.600 resistance zone, it could start another decline. Initial support on the downside is near the $0.5880 level and the triangle lower trend line. The next major support is at $0.5650.
If there is a downside break and a close below the $0.5650 level, the price might continue to decline toward the $0.540 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 – $0.5880 and $0.5650.
Major Resistance Levels – $0.6000 and $0.6150.

XRP Price Eyes Upside Break: Will The Gains Keep Rolling?

Table of Contents

NewsBTC

Other articles published on Jul 22, 2024

Terra Classic Poised For 280% Rally On ‘Major Recovery Strength’ – Analyst

Avalanche (AVAX) Skyrockets 17% to Displace Tron (TRX)

Hacker Transfers Stolen Funds in WazirX Attack

Bounce Token (AUCTION) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Digital Chamber Calls on Kamala Harris To Take Pro-Crypto Stance

BNB Chain Completes Its 28th Quarterly Token Burn

Join our free newsletter for daily crypto updates!