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HomeAltcoin NewsXRP Price Analysis: Bulls Aim For Rally To $0.75

XRP Price Analysis: Bulls Aim For Rally To $0.75

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  • XRP price is attempting a fresh increase from the $0.5650 support against the US dollar.
  • The price is now trading above $0.60 and the 55 simple moving average (4 hours).
  • There was a break above a key bearish trend line with resistance at $0.60 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
  • The pair could continue to rise if it clears the $0.6250 resistance.

XRP price is consolidating above $0.60 against the US Dollar, like Bitcoin. It must stay above the $0.600 support to continue higher in the near term.

XRP Price Analysis

After forming a base above the $0.5650 level, XRP price started a fresh increase against the US Dollar. The XRP/USD pair broke the $0.580 and $0.600 resistance levels to enter a positive zone.

There was a break above a key bearish trend line with resistance at $0.60 on the 4-hour chart of the XRP/USD pair. The pair even cleared the 50% Fib retracement level of the downward wave from the $0.6625 swing high to the $0.5623 low.

The price is now trading above $0.60 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near $0.6250. It is near the 61.8% Fib retracement level of the downward wave from the $0.6625 swing high to the $0.5623 low.

The first key resistance is near the $0.6380 level. The next major resistance is near the $0.650 level. A clear move above the $0.650 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.680 zone and test $0.700. Any more gains might send the price toward the $0.750 resistance.

Initial support on the downside is near the $0.60 level. The next major support is near the $0.580 level. Any more losses could lead the price toward the $0.5650 level, below which the price might even test the $0.5350 support zone in the near term.

XRP Price
XRP Price

Looking at the chart, XRP price is now trading above the $0.600 zone and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase above the $0.6250 resistance.

Technical indicators

4 hours MACD – The MACD for XRP/USD is now losing momentum in the bullish zone.

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

Key Support Levels – $0.60, $0.580, and $0.5650.

Key Resistance Levels – $0.6250 and $0.6380.

Aayush Jindal
Aayush Jindal
Aayush has spent over seven years as a financial markets contributor and observer. He specializes in market strategies and technical analysis, comes with an IT background. He possess strong technical analytical skills and is well known for his entertaining and informative analysis of the currency and commodities markets. He is a software engineer by profession, loves blogging and observing financial markets.

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