XRP’s price surged over 15%, climbing above the $0.740 support zone, suggesting a potential for acceleration if it surpasses the $0.8450 resistance level. The price began its strong upward movement once it crossed the $0.720 resistance, currently trading above $0.750 and the 100-hourly Simple Moving Average. A significant bullish trend line has formed, providing support at $0.7400 on the hourly chart of the XRP/USD pair.
The digital asset’s price maintained stability above the $0.620 threshold, forming a base and initiating a robust increase beyond $0.7000. Over the past two sessions, XRP outperformed Bitcoin and Ethereum, pushing past the $0.740 resistance level. At one point, it reached as high as $0.8989 before experiencing a pullback to below $0.820 and tested the $0.720 level, which aligns with the 61.8% Fibonacci retracement level from the upward move between the $0.6700 swing low to the $0.8989 high.
Trading above $0.750 and the 100-hourly Simple Moving Average, XRP’s chart shows a crucial bullish trend line providing support at $0.740. This trend line closely matches the 76.4% Fibonacci retracement level from the $0.6700 swing low to the recent high. On the upside, resistance could be encountered near the $0.8450 level, with the first significant resistance positioned around $0.8880. If the price clears this barrier, further resistance is expected near $0.900. A definitive move beyond the $0.900 resistance may propel the price toward the $0.9250 mark. Continued gains could push XRP’s price toward the resistances at $0.9550 or even $0.9620, with the subsequent major hurdle potentially being $0.9850.
Should XRP fail to break through the $0.8450 resistance zone, a downside correction could ensue, with initial support near the $0.80 level and another significant support around $0.7550. Breaking and closing below the $0.7550 level might lead to further decline, targeting the $0.740 support in the near term, followed by a major support level close to the $0.7240 zone.
Technical indicators back the bullish outlook; the hourly MACD for XRP/USD is gaining momentum in bullish territory, and the hourly RSI is positioned above the 50 mark. Key support levels are noted at $0.8000 and $0.7550, while major resistance levels remain $0.8450 and $0.8880.
