XRP Price Prediction – Key Upside Break Could Trigger Fresh Surge
December 05 2023 - 12:28AM
NEWSBTC
XRP price is eyeing a key upside break above the $0.650 resistance.
The price could rally toward $0.70 if it clears the $0.650
resistance. XRP is slowly moving higher above the $0.612 level. The
price is now trading above $0.615 and the 100 simple moving average
(4 hours). There was a break above a major declining channel with
resistance near $0.618 on the 4-hour chart of the XRP/USD pair
(data source from Kraken). The pair start a fresh rally if it
clears the $0.645 and $0.650 resistance levels. XRP Price Aims
Higher In the past few days, XRP formed a base above the $0.5880
pivot level. The price started a decent increase above the $0.600
resistance but failed to rally like Bitcoin and Ethereum. There was
a move above the 23.6% Fib retracement level of the main decline
from the $0.720 swing high to the $0.5720 swing low. Besides, there
was a break above a major declining channel with resistance near
$0.618 on the 4-hour chart of the XRP/USD pair. The price is now
trading above $0.615 and the 100 simple moving average (4 hours).
On the upside, immediate resistance is near the $0.625 level. The
first major resistance is near the $0.645 zone or the 50% Fib
retracement level of the main decline from the $0.720 swing high to
the $0.5720 swing low. Source: XRPUSD on TradingView.com The main
resistance sits at $0.650. A close above the $0.650 resistance zone
could spark a steady increase. The next key resistance is near
$0.685. If the bulls remain in action above the $0.658 resistance
level, there could be a rally toward the $0.700 resistance. Any
more gains might send XRP toward the $0.720 resistance. Another
Decline? If XRP fails to clear the $0.650 resistance zone, it could
start a fresh decline. Initial support on the downside is near the
$0.615 zone and the 100 simple moving average (4 hours). The next
major support is at $0.600. If there is a downside break and a
close below the $0.600 level, XRP price might accelerate lower. In
the stated case, the price could retest the $0.572 support zone.
Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now
gaining pace in the bearish zone. 4-Hours RSI (Relative Strength
Index) – The RSI for XRP/USD is now near the 50 level. Major
Support Levels – $0.600, $0.588, and $0.572. Major Resistance
Levels – $0.645, $0.650, and $0.700.
Ripple (COIN:XRPUSD)
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