XRP Price Maintains Key Floor, Market Awaits Next Major Move

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 downside correction from the $1.3750 zone. The price is now consolidating and might aim for another increase if it stays above the $1.3280 zone.

• XRP price started a downside correction after it failed to stay above the $1.3720 zone.
• The price is now trading above $1.350 and the 100-hourly Simple Moving Average.
• There is a bearish trend line forming with resistance at $1.3650 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could start a fresh increase if it settles above $1.3750.

XRP Price Holds Support

XRP price started a decent upward move above $1.3250 and $1.3280, outperforming Bitcoin and Ethereum. The price gained pace for a clear move above the $1.370 resistance.

A high was formed at $1.3741, and the price started a downside correction. There was a move below $1.3450 and $1.3420. The price dipped below the 50% Fib retracement level of the upward move from the $1.3001 swing low to the $1.3741 high.

The price is now trading above $1.350 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.3650 level. There is also a bearish trend line forming with resistance at $1.3650 on the hourly chart of the XRP/USD pair.

The first major resistance is near the $1.3740 level, above which the price could rise and test $1.3880. A clear move above the $1.3880 resistance might send the price toward the $1.40 resistance. Any more gains might send the price toward the $1.420 resistance. The next major hurdle for the bulls might be near $1.450.

Downside Extension?

If XRP fails to clear the $1.3740 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3370 level. The next major support is near the $1.3280 level and the 61.8% Fib retracement level of the upward move from the $1.3001 swing low to the $1.3741 high.

If there is a downside break and a close below the $1.3280 level, the price might continue to decline toward $1.3175. The next major support sits near the $1.3120 zone, below which the price could continue lower toward $1.3050. Any more losses might call for a test of $1.30.

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 – $1.3370 and $1.3280.

Major Resistance Levels – $1.3650 and $1.3740.