XRP Price Rally Heats Up — Can Bulls Smash $1.50?
Analysis
Price Impact
MedThe article suggests a potential rally towards $1.50 and beyond, indicating significant upward price movement if key resistance levels are broken. however, it also outlines downside scenarios, suggesting a medium impact as the outcome is not guaranteed.
Trustworthiness
HighPrice Direction
BullishThe article highlights a 'decent upward move' and the possibility of bulls smashing $1.50 and potentially higher, supported by bullish technical indicators like the macd gaining pace in the bullish zone and rsi above 50.
Time Effect
ShortThe analysis focuses on hourly charts and immediate price targets like $1.480, $1.50, and $1.5250, indicating that the potential price movements are expected in the short term.
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 $1.450. The price is now consolidating gains and might aim for more gains above the $1.480 zone. XRP price started a decent upward move above the $1.450 zone. The price is now trading above $1.4550 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $1.410 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.480. XRP Price Extends Its Rally XRP price started a decent upward move above $1.420 and $1.4320, like Bitcoin and Ethereum . The price gained pace for a clear move above the $1.450 resistance. The bulls even pumped the price toward the $1.4750 zone. A high was formed at $1.4798 and the price started a consolidation phase above the 23.6% Fib retracement level of the upward move from the $1.3855 swing low to the $1.4798 high. The price is now trading above $1.4550 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.480 level. The first major resistance is near the $1.4850 level, above which the price could rise and test $1.50. Source: XRPUSD on TradingView.com A clear move above the $1.50 resistance might send the price toward the $1.5250 resistance. Any more gains might send the price toward the $1.5320 resistance. The next major hurdle for the bulls might be near $1.550. Downside Correction? If XRP fails to clear the $1.480 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.450 level. The next major support is near the $1.4325 level or the 50% Fib retracement level of the upward move from the $1.3855 swing low to the $1.4798 high. If there is a downside break and a close below the $1.4325 level, the price might continue to decline toward $1.420. The next major support sits near the $1.410 zone and the trend line, below which the price could continue lower toward $1.3880. The main support could be $1.3680. 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 – $1.450 and $1.4320. Major Resistance Levels – $1.480 and $1.50.