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XRP Price Poised for Steady Rise: Can It Maintain Its Uptrend?

August 25, 2024
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XRP worth is consolidating good points above the $0.5850 degree. The worth might begin a serious improve if it clears the $0.6150 resistance zone.

XRP worth is eyeing a contemporary improve from the $0.5850 degree.
The worth is now buying and selling above $0.5980 and the 100-hourly Easy Shifting Common.
There’s a connecting bullish pattern line forming with help at $0.600 on the hourly chart of the XRP/USD pair (knowledge supply from Kraken).
The pair might begin a contemporary improve if it clears the $0.6150 resistance zone.

XRP Value Goals Increased

XRP worth shaped a base above the $0.5850 degree. The worth began a gentle improve above the $0.5880 and $0.5920 ranges like Bitcoin and Ethereum.

There’s a bullish continuation sample forming from the $0.5850 degree. The worth gained tempo for a transfer above the 50% Fib retracement degree of the downward transfer from the $0.6149 swing excessive to the $0.5853 low. The worth is now buying and selling above $0.5980 and the 100-hourly Easy Shifting Common.

There’s additionally a connecting bullish pattern line forming with help at $0.600 on the hourly chart of the XRP/USD pair. If there may be an upside continuation, the worth might face hurdles close to the $0.6050 degree.

The 61.8% Fib retracement degree of the downward transfer from the $0.6149 swing excessive to the $0.5853 low can be close to the $0.6050 degree. The primary main resistance is close to the $0.6080 degree. The following key resistance might be $0.6150.

A transparent transfer above the $0.6150 resistance may ship the worth towards the $0.6220 resistance. The following main resistance is close to the $0.6350 degree. Any extra good points may ship the worth towards the $0.6550 resistance and even $0.6880 within the close to time period.

One other Pullback?

If XRP fails to clear the $0.6050 resistance zone, it might begin a short-term pullback. Preliminary help on the draw back is close to the $0.600 degree. The following main help is at $0.5880.

If there’s a draw back break and a detailed beneath the $0.5880 degree, the worth may proceed to say no towards the $0.5650 help within the close to time period. The following main help sits at $0.5550.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining tempo within the bullish zone.

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

Main Help Ranges – $0.600 and $0.5850.

Main Resistance Ranges – $0.6050 and $0.6220.



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Tags: MaintainPoisedPriceriseSteadyUptrendXRP
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