XRP ’s price has recently surged past significant resistance levels, notably $1.45 and $1.50, and is now stabilizing around the $1.40 level. This upward trajectory suggests a potential for further gains as the market assesses its next moves.
After establishing a solid base above $1.250, XRP began its ascent, pushing through the $1.350 and $1.40 barriers. The momentum was so strong that it temporarily rose above the $1.50 level, outperforming both Ethereum and Bitcoin in the process. A peak was reached at approximately $1.6339, followed by a retracement that saw XRP drop below $1.50 to a low of $1.3007. However, a recovery has commenced, with the price moving past the 23.6% Fibonacci retracement level of the recent downturn.
Currently, XRP is trading above the critical $1.40 level and the 100-hourly Simple Moving Average. There are indications that the price may encounter resistance near the $1.420 mark, while a more significant hurdle lies around $1.450, coinciding with a new bearish trend line on the hourly chart. This level also aligns with the 50% Fibonacci retracement of the recent price decline.
Looking ahead, should XRP manage to surpass the $1.50 level, it could target the $1.5550 resistance. Continued bullish momentum may propel it towards $1.620 or potentially even $1.650 in the near future. The next major challenges for the bulls will be at the $1.750 and $1.80 levels.
On the other hand, if XRP struggles to break through the $1.450 resistance, a correction may ensue. Initial support is observed at around $1.3450, with additional significant support near $1.320. Should the price close below this level, further declines towards $1.300 and eventually $1.240 could follow.
Technical indicators reflect a bullish outlook, with the MACD gaining momentum and the Relative Strength Index indicating strength above the neutral mark of 50. Support levels to watch include $1.4200 and $1.4000, while resistance remains focused at $1.4500 and $1.5000.
