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

23 August 2024
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XRP worth is consolidating good points above the $0.5850 stage. The worth might begin a significant improve if it clears the $0.6150 resistance zone.

XRP worth is eyeing a recent improve from the $0.5850 stage.
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 recent improve if it clears the $0.6150 resistance zone.

XRP Worth Goals Larger

XRP worth fashioned a base above the $0.5850 stage. 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 stage. The worth gained tempo for a transfer above the 50% Fib retracement stage 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 may be additionally a connecting bullish pattern line forming with help at $0.600 on the hourly chart of the XRP/USD pair. If there’s an upside continuation, the value might face hurdles close to the $0.6050 stage.

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

A transparent transfer above the $0.6150 resistance may ship the value towards the $0.6220 resistance. The subsequent main resistance is close to the $0.6350 stage. Any extra good points may ship the value 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 stage. The subsequent main help is at $0.5880.

If there’s a draw back break and a detailed beneath the $0.5880 stage, the value may proceed to say no towards the $0.5650 help within the close to time period. The subsequent 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 stage.

Main Assist Ranges – $0.600 and $0.5850.

Main Resistance Ranges – $0.6050 and $0.6220.



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Tags: MaintainPoisedPriceRISESteadyUptrendXRP
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