Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

XRP Price Fights for a Steady Climb: Will Bulls Prevail?

Source Newsbtc

XRP price gained pace for a move above the $0.5800 support zone. The price rallied toward $0.6150 resistance and recently corrected gains.

XRP price is struggling to rise steadily like Bitcoin.
The price is now trading above $0.580 and the 100-hourly Simple Moving Average.
There is a key bullish trend line forming with support at $0.5780 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could start a fresh increase if it stays above the $0.5720 support zone.

XRP Price Eyes More Gains

XRP price remained supported above the $0.5250 level. It formed a base and started a fresh increase above $0.5550, but gains were limited compared to Bitcoin and Ethereum. There was a move above the $0.5850 and $0.6000 resistance levels.

The bulls even pushed the price above the $0.6050 level before the bears appeared. A high was formed at $0.6162 before there was a pullback. The price dipped below $0.600 and tested $0.5640. A low was formed at $0.6162 and the price is now attempting a fresh increase.

There was a move above the $0.580 resistance. The price surpassed the 50% Fib retracement level of the recent decline from the $0.6162 swing high to the $0.5630 low.

The price is now trading above $0.580 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $0.5780 on the hourly chart of the XRP/USD pair. On the upside, the price might face resistance near the $0.5950 level or the 61.8% Fib retracement level of the recent decline from the $0.6162 swing high to the $0.5630 low.

The first major resistance is near the $0.6040 level. The next key resistance could be $0.6150. A clear move above the $0.6150 resistance might send the price toward the $0.6220 resistance.

Any more gains might send the price toward the $0.6350 resistance or even $0.6420 in the near term. The next major hurdle might be $0.6500.

Another Decline?

If XRP fails to clear the $0.600 resistance zone, it could start another decline. Initial support on the downside is near the $0.5820 level. The next major support is near the $0.5780 level and the trend line.

If there is a downside break and a close below the $0.5780 level, the price might continue to decline toward the $0.5650 support in the near term. The next major support sits near the $0.5500 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5820 and $0.5780.

Major Resistance Levels – $0.6000 and $0.6150.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

Sep 20, Sun

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Bitcoin rallies near $86K on improving markets ahead of quarterly options expiry Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000.

Author FXStreet

2 hours ago

Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000.

Popular Symbols