• bitcoinBitcoin (BTC) $ 60,742.00
  • ethereumEthereum (ETH) $ 2,348.21
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  • bnbBNB (BNB) $ 543.64
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  • usd-coinUSDC (USDC) $ 0.999544
  • xrpXRP (XRP) $ 0.522900
  • staked-etherLido Staked Ether (STETH) $ 2,347.65
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  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.37
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.376019
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  • stellarStellar (XLM) $ 0.090024
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  • whitebitWhiteBIT Coin (WBT) $ 11.32
  • thorchainTHORChain (RUNE) $ 4.50
  • the-graphThe Graph (GRT) $ 0.153896
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,354.57
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  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,629.09
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  • mantle-staked-etherMantle Staked Ether (METH) $ 2,446.94
  • arweaveArweave (AR) $ 17.96
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  • lido-daoLido DAO (LDO) $ 1.03
  • jasmycoinJasmyCoin (JASMY) $ 0.018967
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  • bitcoin-svBitcoin SV (BSV) $ 44.14
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  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,344.62
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  • msolMarinade Staked SOL (MSOL) $ 166.24
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  • tokenize-xchangeTokenize Xchange (TKX) $ 8.41
  • tether-goldTether Gold (XAUT) $ 2,654.46
  • nervos-networkNervos Network (CKB) $ 0.014458
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  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 60,635.00
  • akash-networkAkash Network (AKT) $ 2.43
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  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,403.14
  • mina-protocolMina Protocol (MINA) $ 0.486711
  • roninRonin (RON) $ 1.59
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  • chilizChiliz (CHZ) $ 0.058882
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  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,347.46
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  • aleoALEO (ALEO) $ 4.68
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  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,538.74
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  • lombard-staked-btcLombard Staked BTC (LBTC) $ 60,911.00
  • raydiumRaydium (RAY) $ 1.60
  • frax-etherFrax Ether (FRXETH) $ 2,341.23
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  • livepeerLivepeer (LPT) $ 11.80
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  • apenftAPENFT (NFT) $ 0.00000041
  • usdbUSDB (USDB) $ 1.01
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
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  • gnosisGnosis (GNO) $ 150.38
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  • compound-governance-tokenCompound (COMP) $ 42.54
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  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 1.00
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  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.060149

XRP Price Rises Within Range: Poised for a Breakout?

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XRP price avoided a major downside break as ETH’s surges. The price is back above $0.5220 and eyeing a key upside break in the near term.

  • XRP started a decent increase above the $0.5150 resistance zone.
  • The price is now trading above $0.5250 and the 100-hourly Simple Moving Average.
  • There was a break above a key bearish trend line with resistance at $0.520 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could correct gains, but the bulls might remain active near the $0.5180 zone.

XRP Price Recovers

After a drop toward the $0.5065 support, XRP price started a recovery wave. Recently, Ethereum rallied over 20% and Bitcoin climbed above $70,000. It sparked decent bullish moves in XRP.

The price climbed above the $0.5150 and $0.520 resistance level. There was a break above a key bearish trend line with resistance at $0.520 on the hourly chart of the XRP/USD pair. The pair even broke the $0.5320 resistance and traded as high as $0.5386.

The price is now correcting gains and might test the 23.6% Fib retracement level of the upward wave from the $0.5064 swing low to the $0.5386 high.

It is now trading above $0.5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the $0.5380 level. The first key resistance is near $0.5420. A close above the $0.5420 resistance zone could send the price higher. The next key resistance is near $0.5550.

XRP Price Rises Within Range: Poised for a Breakout?

If the bulls push the price above the $0.5550 resistance level, there could be a fresh move toward the $0.5650 resistance. Any more gains might send the price toward the $0.5720 resistance.

Another Decline?

If XRP fails to clear the $0.5380 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.5310 level. The next major support is at $0.5250.

The main support is now near $0.5220 or the 50% Fib retracement level of the upward wave from the $0.5064 swing low to the $0.5386 high. If there is a downside break and a close below the $0.5220 level, the price might accelerate lower. In the stated case, the price could drop and test the $0.5065 support in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5310 and $0.5220.

Major Resistance Levels – $0.5380 and $0.5420.

Source

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