XRP Price Beats BTC: Surging Higher and Aiming for More
31 Juillet 2024 - 5:48AM
NEWSBTC
XRP price is gaining pace above the $0.6320 resistance zone. The
price is up over 6%, outperforming Bitcoin, and might rise further
toward $0.6750. XRP price is gaining pace above the $0.6320 zone.
The price is now trading above $0.640 and the 100-hourly Simple
Moving Average. There is a key bullish trend line forming with
support at $0.640 on the hourly chart of the XRP/USD pair (data
source from Kraken). The pair could rise further if it clears the
$0.6580 resistance zone. XRP Price Rallies Over 6% XRP price formed
a base above the $0.60 zone and started a fresh increase. It
cleared the $0.6120 and $0.6150 resistance levels to move into a
positive zone. The price is up over 6%, outperforming Bitcoin and
Ethereum, and might aim for more gains. A high is formed at $0.6582
and the price is now consolidating gains. It is above the 23.6% Fib
retracement level of the upward move from the $0.6113 swing low to
the $0.6582 high. The price is now trading above $0.640 and the
100-hourly Simple Moving Average. There is also a key bullish trend
line forming with support at $0.640 on the hourly chart of the
XRP/USD pair. If there is a fresh increase, the price could face
resistance near the $0.6580 level. The first major resistance is
near the $0.6650 level. The next key resistance could be $0.6720. A
clear move above the $0.6720 resistance might send the price toward
the $0.6850 resistance. The next major resistance is near the
$0.6940 level. Any more gains might send the price toward the
$0.700 resistance or even $0.720 in the near term. Are Dips
Supported? If XRP fails to clear the $0.6580 resistance zone, it
could start a downside correction. Initial support on the downside
is near the $0.6450 level. The next major support is at $0.640 or
the trend line. If there is a downside break and a close below the
$0.640 level, the price might continue to decline toward the
$0.6350 support in the near term. The next major support sits at
$0.6220 or the 76.4% Fib retracement level of the upward move from
the $0.6113 swing low to the $0.6582 high. 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 – $0.6400
and $0.6350. Major Resistance Levels – $0.6580 and $0.6720.
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