XRP Price Reclaims $0.50 and Indicators Suggest Fresh Surge To $0.70
24 Aprile 2024 - 7:00AM
NEWSBTC
XRP price is recovering higher above the $0.500 resistance. The
price is signaling a positive bias and might rally above the $0.580
and $0.600 levels. XRP is attempting a recovery wave above the
$0.50 zone. The price is now trading above $0.5150 and the 100
simple moving average (4 hours). There was a break above a key
bearish trend line with resistance at $0.5220 on the 4-hour chart
of the XRP/USD pair (data source from Kraken). The pair could gain
bullish momentum if there is a close above the $0.580 resistance.
XRP Price Aims Higher After a sharp decline, XRP price found
support near the $0.3880 zone. It formed a base and started a fresh
increase above the $0.450 resistance, like Bitcoin and Ethereum.
The bulls were able to push the price above the $0.50 resistance.
The price climbed above the 50% Fib retracement level of the
downward move from the $0.6420 swing high to the $0.3875 low.
Besides, there was a break above a key bearish trend line with
resistance at $0.5220 on the 4-hour chart of the XRP/USD pair. The
price is now trading above $0.5150 and the 100 simple moving
average (4 hours). Immediate resistance is near the $0.5650 level.
The next key resistance is near $0.5820 or the 76.4% Fib
retracement level of the downward move from the $0.6420 swing high
to the $0.3875 low. Source: XRPUSD on TradingView.com A close above
the $0.5820 resistance zone could spark a strong increase. The next
key resistance is near $0.620. If the bulls remain in action above
the $0.620 resistance level, there could be a rally toward the
$0.680 resistance. Any more gains might send the price toward the
$0.700 resistance. Another Drop? If XRP fails to clear the $0.5820
resistance zone, it could start another decline. Initial support on
the downside is near the $0.540 level. The next major support is at
$0.5150. If there is a downside break and a close below the $0.5150
level, the price might accelerate lower. In the stated case, the
price could retest the $0.4650 support zone. Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now gaining pace in the
bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for
XRP/USD is now above the 50 level. Major Support Levels – $0.540,
$0.5150, and $0.4650. Major Resistance Levels – $0.5650, $0.5820,
and $0.6200.
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