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- XRP hits major resistance at $0.64, boosted by US regulatory clarity, now consolidating around $0.60.
- Moving averages suggest strong support at $0.5563 and $0.5186, with short-term resistance at $0.6066.
- XRP tests multi-year trendline resistance whereby a breakout could target $0.8000, while failure might revisit lower lows.
XRP has recently captured significant attention as it faces major resistance at the $0.64 mark, per EGRAG CRYPTO, a top analyst. This pivotal price point draws keen interest from traders and investors, particularly following the recent regulatory clarity received in the United States.
Examining the recent price action on a one-hour chart reveals some crucial insights. XRP’s price has been rising from a support level of around $0.4922 to the current resistance level of $0.6434, revealing a recent uptrend.
This bullish movement suggests positive market sentiment, likely fueled by recent news. However, the price has experienced a minor pullback to approximately $0.6031, indicating a consolidation phase.
Key moving averages offer additional insight into XRP’s price action. The 7-day moving average, at $0.6066, presents short-term resistance. In contrast, the 25-day and 99-day moving averages, at $0.5563 and $0.5186, respectively, provide stronger support. These averages highlight a solid support base that could cushion the price against deeper retracements.