XRP Price Settles After Gains—Is a Fresh Upside Move Coming?

Mitrade
Trending Articles
coverImg
Source: DepositPhotos

XRP price is consolidating gains above the $2.60 zone. The price is showing positive signs and might gain bullish momentum above $2.750.


  • XRP price started a decent upward move above the $2.60 zone.

  • The price is now trading above $2.60 and the 100-hourly Simple Moving Average.

  • There is a key bullish trend line forming with support at $2.680 on the hourly chart of the XRP/USD pair (data source from Kraken).

  • The pair might start a fresh increase if it clears the $2.750 resistance zone.


XRP Price Rally Loses Steam


XRP price managed to stay above the $2.50 support and remained in a positive zone, unlike Bitcoin and Ethereum. A base was formed, and the price started a decent upward move above the $2.55 and $2.65 levels.


The price surpassed the first key barrier at $2.750. It tested the next hurdle at $2.840. A high was formed at $2.8322 and the price is now consolidating gains. There was a minor move below $2.75. The price dipped below the 23.6% Fib retracement level of the upward move from the $2.330 swing low to the $2.8322 high.


The current price action is positive. There is also a key bullish trend line forming with support at $2.680 on the hourly chart of the XRP/USD pair. The price is now trading above $2.650 and the 100-hourly Simple Moving Average.


On the upside, the price might face resistance near the $2.750 level. The first major resistance is near the $2.80 level. The next resistance is $2.840. A clear move above the $2.840 resistance might send the price toward the $2.920 resistance.


XRP Price


Any more gains might send the price toward the $3.0 resistance or even $3.050 in the near term. The next major hurdle for the bulls might be $3.120.

Read more

  • Australian Dollar receives support following cautious remarks from RBA Hauser
  • * 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
    Related Articles
    placeholder
    WTI Price Forecast: Trades with modest gains below $60.00; not out of the woods yetFrom a technical perspective, the black liquid has been trending lower along a downward-sloping channel since late October.
    Author  FXStreet
    Nov 07, Fri
    From a technical perspective, the black liquid has been trending lower along a downward-sloping channel since late October.
    placeholder
    Top 3 Price Prediction: BTC, ETH, and XRP struggle for recovery as downside pressure buildsBitcoin (BTC) price is hovering around $102,000 at the time of writing on Friday after losing over 7% so far this week, as bearish sentiment continues to weigh on the broader crypto market.
    Author  FXStreet
    Nov 07, Fri
    Bitcoin (BTC) price is hovering around $102,000 at the time of writing on Friday after losing over 7% so far this week, as bearish sentiment continues to weigh on the broader crypto market.
    placeholder
    Galaxy lowers Bitcoin forecast to $120K due to AI and goldGalaxy Digital lowers its year-end bitcoin target from $185,000 to $120,000 due to slowing momentum in the ‘maturity era’ of the bitcoin market.
    Author  Cryptopolitan
    Nov 06, Thu
    Galaxy Digital lowers its year-end bitcoin target from $185,000 to $120,000 due to slowing momentum in the ‘maturity era’ of the bitcoin market.
    placeholder
    What Altcoins Whales Are Buying After the Early November Crypto Crash?The early-November crypto crash caught the market off guard, contradicting expectations of a strong, bullish month.
    Author  Beincrypto
    Nov 06, Thu
    The early-November crypto crash caught the market off guard, contradicting expectations of a strong, bullish month.
    placeholder
    Solana Price Forecast: SOL rebounds as retail demand resurfaces, ETFs hold steadyCorroborating with steady institutional demand, the retail demand is resurfacing, suggesting further gains for Solana. 
    Author  FXStreet
    Nov 06, Thu
    Corroborating with steady institutional demand, the retail demand is resurfacing, suggesting further gains for Solana. 
    Live Quotes
    Name / SymbolChart% Change / Price
    XRPUSD
    XRPUSD
    0.00%0.00

    cryptocurrency Related Articles

    • Trading Chart Patterns:Ultimate Guide to Price Action
    • How to Day Trade Crypto? Simplest Day Trading Strategy Ever
    • Places that Provide Cheapest Ways to Buy Bitcoin In 2025
    • 10 Best Crypto With Most Potential to Buy and invest in 2025 - Top Picks from Expert Traders
    • What is Starknet (STRK)? Value of Starknet Coin and Project Development
    • How To Buy Bitcoin In Malaysia? Top 7 Best Crypto Exchanges & Trading Apps

    Click to view more