XRP is currently stabilizing around the $1.450 level, demonstrating positive momentum that may drive the price above $1.50 in the near future. The cryptocurrency is attempting to break through the $1.465 resistance level, as it consistently trades above $1.450 and the 100-hour Simple Moving Average. This movement follows a significant breach of a bearish trend line that previously capped its gains at approximately $1.4580.
The price has shown resilience, holding above the support level of $1.30. Following a pattern seen in larger market movements, XRP experienced upward momentum, surpassing recent resistance points of $1.3550 and $1.3750. Noteworthy is the formation of a peak at $1.5238, creating a consolidation phase around the 23.6% Fibonacci retracement level, reflecting an uptrend from the $1.2828 low.
Looking ahead, the price faces potential resistance at $1.500, with significant resistance anticipated around $1.5250. Should XRP manage to breach the $1.550 level, it may pave the way for further gains toward $1.5850, with additional targets set at $1.600 and $1.620. If the bullish trend continues, the next challenge for XRP bulls could emerge around the $1.650 to $1.6550 range.
Conversely, if XRP struggles to surpass the $1.500 resistance, a decline may unfold, with initial support positioned near $1.4300. Should a breakout occur below the $1.40 level, further declines could lead the price toward the $1.3750 support range. Technical indicators suggest that XRP is at a critical juncture, with the MACD currently losing steam in the bullish zone, while the Relative Strength Index is comfortably above the midpoint, indicating some positive market sentiment. Major support levels to watch are $1.4300 and $1.4000, while resistance levels remain at $1.5000 and $1.5250.
