XRP Price Pressures Resistance, Bulls Eye Upside Break

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 recovery wave above $1.3380 and $1.340. The price is now consolidating and might aim for a fresh move above $1.3550. XRP price started a recovery wave above the $1.340 zone. The price is now trading above $1.3380 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $1.3550 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.360. XRP Price Holds Support XRP price remained supported above $1.3220 and started a recovery wave, like Bitcoin and Ethereum . The price was able to climb above $1.3350 and $1.340 to enter a short-term positive zone. There was also a move above the 38.2% Fib retracement level of the downward move from the $1.3963 swing high to the $1.3222 swing low. However, the bears are active near the $1.350 zone. There is also a key bearish trend line forming with resistance at $1.3550 on the hourly chart of the XRP/USD pair. The price is now trading above $1.340 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3550 level and the trend line. Source: XRPUSD on TradingView.com The first major resistance is near the $1.360 level.  A close above $1.360 could send the price to $1.3680 or the 61.8% Fib retracement level of the downward move from the $1.3963 swing high to the $1.3222 swing low. The next hurdle sits at $1.380. A clear move above the $1.380 resistance might send the price toward the $1.3880 resistance. Any more gains might send the price toward the $1.40 resistance. Another Drop? If XRP fails to clear the $1.3550 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3380 level. The next major support is near the $1.3220 level. If there is a downside break and a close below the $1.3220 level, the price might continue to decline toward $1.3120. The next major support sits near the $1.280 zone, below which the price could continue lower toward $1.2650. 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 below the 50 level. Major Support Levels – $1.3380 and $1.3220. Major Resistance Levels – $1.3550 and $1.3680.