XRP Price Surges Above $0.5320, Bullish Trend Eyes $0.5450 Resistance

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XRP price has been exhibiting a steady ascent from the $0.5220 support level, hinting at potential bullish momentum if it can surpass the resistance levels of $0.5360 and $0.5450.

Recently, XRP has been trading above the $0.5340 mark and the 100-hourly Simple Moving Average, showing signs of upward movement. A bullish trend line has also emerged, offering support around the $0.5280 level according to the hourly chart of the XRP/USD pair.


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The price remained relatively stable above the $0.5220 support, contrasting with the performance of Bitcoin and Ethereum. A foundation was established, prompting a fresh rise above $0.5350. The price encountered resistance at $0.5450 before dipping to $0.5240. A low was marked at $0.5239, and the price started climbing again, pushing past the $0.5320 resistance.

The recent price surge cleared the 50% Fibonacci retracement level of the decline from the $0.5439 swing high to the $0.5239 low. Currently, XRP is trading above $0.5320 and the 100-hourly Simple Moving Average. The bullish trend line at $0.5280 is reinforcing the price on the hourly chart.

On the upside, the $0.5360 level presents resistance, close to the 61.8% Fibonacci retracement level of the decline from the $0.5439 swing high to the $0.5239 low. The $0.5420 level is another significant resistance point, with the next key resistance situated at $0.5450. A decisive move above $0.5450 could drive the price towards the $0.5500 resistance. Further gains might propel the price towards the $0.5680 or even $0.5750 in the near term, with another major hurdle around the $0.600 level.

However, if XRP fails to clear the $0.5360 resistance zone, it risks another downward movement. Initial support on the downside lies near the $0.5285 level, with substantial support around $0.5240. A break below the $0.5220 level could lead to a continued decline towards the $0.5120 support in the near term, with the next significant support near the $0.5050 zone.

Technical indicators portray a bullish scenario for XRP. The hourly MACD for XRP/USD is gaining momentum in the bullish zone, while the hourly RSI (Relative Strength Index) for XRP/USD is above the 50 mark.

Key support levels include $0.5285 and $0.5220, whereas major resistance levels are $0.5360 and $0.5450.