XRP Tests $1.42 Resistance After Rally Above $1.38
XRP has bounced above $1.3850 and is now testing resistance near $1.42. The hourly MACD is gaining pace in the bullish zone while RSI sits above 50, with Bitcoin and Ethereum also showing similar bullish trends.
Key Takeaway
XRP needs to clear $1.42 resistance to target $1.50 — momentum indicators are bullish.
XRP trades above the 100-hourly Simple Moving Average after its recent increase, consolidating above the $1.40 zone and forming a high at $1.4148 before pulling back to the 23.6% Fibonacci retracement level. A bullish trend line supports at $1.3920 on the hourly chart, keeping buyers in control as long as that line holds.
First major resistance sits at $1.420. Breaking through that level could push XRP toward $1.4350, then $1.450, and possibly $1.480. The major resistance hurdle remains at $1.50, a level that would mark a decisive break for bulls if cleared.
On the downside, initial support comes in at $1.3880. If that fails, the next major support zone is $1.380, near the 50% Fibonacci retracement level. Further losses could test $1.350, then $1.3220, and ultimately $1.30 if selling pressure intensifies.
The hourly MACD for XRP/USD is gaining pace in the bullish zone, while the hourly RSI holds above 50. Bitcoin and Ethereum are also showing similar bullish trends, which typically provides tailwinds for altcoins like XRP. Chart data from Kraken shows major support levels at $1.4000 and $1.3800, with major resistance levels at $1.4200 and $1.4500.
This article was written based on reporting from NewsBTC.
