- XRP price is gaining pace above the $0.65 support against the US dollar.
- The price is now trading above $0.65 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $0.638 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
- The pair could extend its increase above the $0.70 resistance zone.
XRP price is rising above $0.65 against the US Dollar, like Bitcoin. The price must stay above $0.625 to continue higher in the near term.
XRP Price Analysis
In the past few days, XRP price saw a strong increase above the $0.55 resistance against the US Dollar. It climbed above the $0.625 resistance zone to move into a positive zone.
The price gathered pace and climbed above the $0.650 resistance zone. The pair even surged toward the $0.688 resistance zone. A high is formed near $0.6885 and the price is now consolidating gains. It is trading nicely above the 23.6% Fib retracement level of the upward move from the $0.5886 swing low to the $0.6885 high.
XRP price is now trading above $0.65 and the 55 simple moving average (4 hours). On the upside, the price is facing resistance near $0.688. The next major resistance is near the $0.70 level.
The main resistance is now forming near the $0.720 zone. A clear move above the $0.700 and $0.720 levels might start a steady increase. In the stated case, the price could test the $0.750 resistance.
Any more gains might send the price toward the $0.80 resistance. Initial support on the downside is near the $0.665 level. The next major support is near the $0.650 level, below which the price could gain bearish momentum toward the $0.635 support.
There is also a key bullish trend line forming with support near $0.638 on the 4-hour chart of the XRP/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $0.5886 swing low to the $0.6885 high. Any more losses could lead the price toward the $0.625 level.
Looking at the chart, XRP price is now trading above the $0.650 zone and the 55 simple moving average (4 hours). Overall, the price could start another increase if it stays above $0.700.
Technical indicators
4 hours MACD – The MACD for XRP/USD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level.
Key Support Levels – $0.6650, $0.6500, and $0.6350.
Key Resistance Levels – $0.7000 and $0.7500.
