XRP Price Rally Accelerates, $1.50 Resistance Could Decide Next Move
Analysis
Price Impact
HighThe news indicates a significant price rally with xrp nearing a key resistance level of $1.50. a break above this level could trigger further substantial gains, while failure to do so might lead to a decline. this level is critical for determining the short-to-medium term price direction.
Trustworthiness
HighThe analysis is based on technical indicators like the 100-hourly simple moving average and fib retracement levels, along with chart patterns like trend lines. it also references price action data from a specific exchange (kraken) and a charting platform (tradingview), which are standard tools in technical analysis, lending credibility to the assessment.
Price Direction
BullishThe price has recently broken above a bearish trend line and is trading above key moving averages. while consolidation is occurring, the overall momentum suggests a potential continuation of the rally, especially if the $1.50 resistance is breached. the article outlines scenarios for both upward and downward movements, but the initial breakout points towards bullish sentiment.
Time Effect
ShortThe analysis focuses on hourly charts and specific resistance/support levels that are likely to be tested in the short term. the immediate next move is dependent on breaking the $1.50 resistance, indicating a short-term focus.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price started a decent increase above $1.40. The price is now consolidating gains and might aim for more gains above the $1.50 zone. XRP price started a decent upward move above the $1.420 zone. The price is now trading above $1.4250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $1.3820 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.50. XRP Price Rally Reaches Resistance XRP price started a fresh upward move above $1.40 and $1.420, like Bitcoin and Ethereum . The price gained pace for a clear move above the $1.450 resistance. There was a break above a key bearish trend line with resistance at $1.3820 on the hourly chart of the XRP/USD pair. The bulls even pumped the price toward the $1.50 zone. A high was formed at $1.4936 and the price started a consolidation phase. There was a drop below the 23.6% Fib retracement level of the upward move from the $1.3125 swing low to the $1.4936 high. Source: XRPUSD on TradingView.com The price is now trading above $1.420 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.460 level. The first major resistance is near the $1.50 level, above which the price could rise and test $1.5450. A clear move above the $1.5450 resistance might send the price toward the $1.650 resistance. Any more gains might send the price toward the $1.720 resistance. The next major hurdle for the bulls might be near $1.80. Another Decline? If XRP fails to clear the $1.460 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.420 level. The next major support is near the $1.4030 level or the 50% Fib retracement level of the upward move from the $1.3125 swing low to the $1.4936 high. If there is a downside break and a close below the $1.4030 level, the price might continue to decline toward $1.3820. The next major support sits near the $1.3430 zone, below which the price could continue lower toward $1.320. 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 – $1.420 and $1.4030. Major Resistance Levels – $1.460 and $1.50.