Can XRP Price Maintain Momentum? Key Levels to Watch in the Short Term

XRP value is trying a restoration wave from the $0.4865 help. The worth might achieve bullish momentum if it clears the $0.5120 resistance.

XRP remained steady and began a restoration wave above $0.500.
The worth is now buying and selling above $0.5050 and the 100-hourly Easy Transferring Common.
There was a break above a significant bearish development line with resistance at $0.5025 on the hourly chart of the XRP/USD pair (information supply from Kraken).
The pair might begin an honest improve if there’s a shut above the $0.5120 resistance.

XRP Worth Reclaims $0.50

After a gentle decline, XRP value discovered help close to the $0.4865 zone. A low was fashioned at $0.4864 and the worth is now trying a restoration wave, like Bitcoin and Ethereum. There was a transfer above the $0.4950 and $0.50 resistance ranges.

Moreover, there was a break above a significant bearish development line with resistance at $0.5025 on the hourly chart of the XRP/USD pair. The pair even spiked above $0.5100. A excessive was fashioned at $0.5120 and the worth is now consolidating positive factors.

There was a check of the 23.6% Fib retracement degree of the upward transfer from the $0.4867 swing low to the $0.5120 excessive. The worth is now buying and selling above $0.5050 and the 100-hourly Easy Transferring Common.

Fast resistance is close to the $0.5085 degree. The primary key resistance is close to $0.5120. An in depth above the $0.5120 resistance zone might spark a powerful improve. The subsequent key resistance is close to $0.5220. If the bulls stay in motion above the $0.5220 resistance degree, there could possibly be a rally towards the $0.5350 resistance. Any extra positive factors would possibly ship the worth towards the $0.550 resistance.

One other Decline?

If XRP fails to clear the $0.5120 resistance zone, it might begin one other decline. Preliminary help on the draw back is close to the $0.5050 degree and the 100-hourly Easy Transferring Common.

The subsequent main help is at $0.50 or the 50% Fib retracement degree of the upward transfer from the $0.4867 swing low to the $0.5120 excessive. If there’s a draw back break and an in depth beneath the $0.50 degree, the worth would possibly speed up decrease. Within the said case, the worth might retest the $0.4865 help zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for XRP/USD is now above the 50 degree.

Main Help Ranges – $0.500 and $0.4865.

Main Resistance Ranges – $0.5120 and $0.5220.