XRP Price Stalls Once More: Can Buyers Surmount Key Obstacles?

XRP has initiated a corrective phase after peaking at $1.4650. It is currently stabilizing and could potentially pursue further gains if it maintains a position above the $1.40 threshold.

Key Takeaways

XRP commenced a significant upswing above the $1.420 level.
The cryptocurrency is currently trading over the $1.40 mark and is supported by the 100-hourly Simple Moving Average.
A bullish trend line has emerged, providing support at $1.40 on the hourly chart of the XRP/USD pair (data sourced from Kraken).
The price could continue to rise if it holds above the $1.4250 level.

XRP Price Stalls Again

XRP Price Stabilizes Above Key Levels

XRP's price initiated a positive trajectory, breaking through the $1.4120 and $1.4250 levels—similar to trends seen in Bitcoin and Ethereum. This surge propelled XRP past the significant resistance at $1.450.

A peak was established at $1.4650, followed by a corrective move. The price dipped below both the $1.450 and $1.440 levels, falling under the 61.8% Fibonacci retracement level from its upward movement between the swing low of $1.3612 and the high of $1.4650.

Despite this, buyers remained strong above the $1.3850 mark and the 76.4% Fibonacci retracement level from the same upward movement. Currently, the price is trading above $1.40 and is supported by the 100-hourly Simple Moving Average.

Should XRP surge again, it may encounter resistance near the $1.4250 area. The primary resistance level stands at $1.440, above which prices could rise and challenge the $1.4650 peak.

XRP Price Analysis Source: XRPUSD on TradingView.com

A robust breakthrough above the $1.4650 resistance could propel the price towards the $1.50 mark. Further gains might see XRP approach the $1.5250 resistance level, with the next significant hurdle for buyers positioned around $1.550.

What If Prices Decline?

If XRP does not manage to surpass the $1.4250 resistance zone, a fresh decline could begin. The first line of support on the downside rests at $1.40, with additional major support found near the $1.3850 level.

Should the price break down and close below the $1.3850 mark, it could continue its decline towards $1.3780. The next key support level lies around $1.3620, beneath which the price could drop further to $1.350. Further losses could require a test of $1.3320.

Technical Indicators

Hourly MACD: The MACD for XRP/USD is currently losing momentum in the bearish zone.
Hourly RSI (Relative Strength Index): The RSI for XRP/USD is above the 50 level, indicating a neutral to bullish sentiment.
Major Support Levels: $1.4000 and $1.3850.
Major Resistance Levels: $1.4250 and $1.4400.

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