XRP Price Holds Strong, Aiming for More Upside Moves

XRP price is consolidating gains above the $1.050 support zone. The price could soon aim for more gains above the $1.180 resistance zone.

XRP price rallied heavily after forming a base above the key $1.00 level. It outperformed BTC and ETH with a clear move above the $1.050 and $1.080 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $1.2745 swing high to the $0.9988 low.

It seems like the bulls even pushed the price above the $1.150 resistance level before the bears appeared. Now, the price is trading close to a crucial resistance zone. XRP price is showing some strong bullish signs on the lower time frame. It recently rallied from a swing low of $0.9988.

The initial leg of the rally was quite strong, and the price quickly climbed above the $1.020 and $1.040 resistance levels. Later, the price consolidated gains above the $1.050 support zone. Now, the price is aiming for more gains above the pivotal $1.180 resistance zone.

If we look at the hourly chart, XRP price formed a base above the $1.00 level and recently started a fresh increase. It outperformed Bitcoin and Ethereum with a move above the $1.050 and $1.080 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $1.2745 swing high to the $0.9988 low.

The bulls even pushed the price above the $1.150 resistance level before the bears appeared. It seems like the price faced resistance near $1.170. The 61.8% Fib retracement level of the downward move from the $1.2745 swing high to the $0.9988 low is acting as a hurdle.

However, there is a key bullish trend line forming with support at $1.100 on the hourly chart of the XRP/USD pair. The price is now trading above $1.080 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.1680 level. The first major resistance is near the $1.200 level.

The next key resistance could be $1.2740. A clear move above the $1.2740 resistance might send the price toward the $1.3220 resistance. Any more gains might send the price toward the $1.3500 resistance or even $1.3620 in the near term. The next major hurdle might be $1.450.

If XRP fails to clear the $1.1680 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.100 level and the trend line. The next major support is near the $1.060 level.

If there is a downside break and a close below the $1.060 level, the price might continue to decline toward the $1.000 support in the near term. The next major support sits near the $0.980 zone.

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 – $1.1000 and $1.0600

Major Resistance Levels – $1.1700 and $1.2000