XRP Price Sets the Stage for More Gains: Bulls Hold the Momentum

NewsBTC
Updated
Mitrade
coverImg
Source: DepositPhotos

XRP price started a fresh increase above the $3.150 level. The price is holding gains and might start another increase if it clears the $3.2250 resistance.

  • XRP price started a fresh increase from the $3.00 support zone.

  • The price is now trading above $3.120 and the 100-hourly Simple Moving Average.

  • There is a connecting bullish trend line forming with support at $3.10 on the hourly chart of the XRP/USD pair (data source from Kraken).

  • The pair might start a fresh increase if it stays above the $3.10 support.


XRP Price Aims Higher


XRP price managed to start a fresh increase from the $3.00 support zone, but upsides were limited compared to Bitcoin. The price was able to surpass the $3.050 and $3.120 resistance levels.


There was a clear move above the 50% Fib retracement level of the downward move from the $3.3625 swing high to the $3.00 low. Besides, there is a connecting bullish trend line forming with support at $3.10 on the hourly chart of the XRP/USD pair.


The price is now trading above $3.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.2250 level or the 61.8% Fib retracement level of the downward move from the $3.3625 swing high to the $3.00 low.


XRP Price


The first major resistance is near the $3.28 level. The next resistance is $3.350. A clear move above the $3.350 resistance might send the price toward the $3.450 resistance. Any more gains might send the price toward the $3.50 resistance or even $3.550 in the near term. The next major hurdle for the bulls might be $3.650 and a new all-time high.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Bitcoin’s Bull Cycle: Analyst Says The Upside Isn’t Over YetBitcoin has shown some resilience after weeks of consistent price declines, recording a slight upward move in the past day. However, the recovery has not been sufficient to reverse the prevailing
Author  NewsBTC
Yesterday 08: 22
Bitcoin has shown some resilience after weeks of consistent price declines, recording a slight upward move in the past day. However, the recovery has not been sufficient to reverse the prevailing
placeholder
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strengthBitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days.
Author  FXStreet
Yesterday 05: 46
Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days.
placeholder
XRP Targeting $15 If This Pattern Holds, Analyst SaysAn analyst has pointed out how XRP could be targeting a breakout toward $15 if this pattern forming in its 1-week price chart is real. XRP May Have Broken Out Of A Symmetrial Triangle In a new post
Author  NewsBTC
Yesterday 05: 41
An analyst has pointed out how XRP could be targeting a breakout toward $15 if this pattern forming in its 1-week price chart is real. XRP May Have Broken Out Of A Symmetrial Triangle In a new post
placeholder
Bitcoin Price Faces Strong Resistance—Will Bulls Hold Their Ground?Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a decent increase in the near term. Bitcoin started a fresh increase from the $95,200
Author  NewsBTC
Yesterday 03: 34
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a decent increase in the near term. Bitcoin started a fresh increase from the $95,200
placeholder
Ethereum Price Holds Ground—Are Bulls Preparing for the Next Move?Ethereum price is moving higher above the $2,650 zone. ETH might gain bullish momentum if it clears the $2,750 resistance zone. Ethereum started a fresh increase above the $2,620 resistance level.
Author  NewsBTC
Yesterday 03: 31
Ethereum price is moving higher above the $2,650 zone. ETH might gain bullish momentum if it clears the $2,750 resistance zone. Ethereum started a fresh increase above the $2,620 resistance level.
Real-time Quote