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Rising momentum of XRP price over the $0.440 barrier zone shows good indicators of further increases. XRP is exhibiting a good comeback wave right now trading above $0.440 and with the 100-hour Simple Moving Average.
Key Bullish Indicators
On the hourly chart of the XRP/USD pair, a noteworthy bullish trend line with support at $0.4390 has developed. Maintaining the increasing momentum has been much aided by this degree of support. Recently, the price surged beyond the levels of $0.4320 and $0.4400 resistance and even exceeded $0.450.
Resistance Levels and Potential Gains
Near the $0.4550 mark, XRP is immediately running into opposition. First substantial opposition is at $0.4620; then, a crucial resistance of $0.4650 follows. With the next main barrier around $0.4880, a clear move over this level might drive XRP towards the $0.480 resistance. Consistent advances might drive the price near the $0.500 resistance level, therefore attaining a notable positive milestone.
Supportive Levels for Possible Dips
Should XRP not be able to exceed the $0.4550 barrier, a negative reversal might follow. Initial support on the downside falls somewhere at the $0.4450 level. At $0.4390, in accordance with the trend line, the next significant support comes. A break and closing below this level would cause further falls into the $0.4220 support.
Tests of the 50% Fibonacci retracing level of the upward movement from the $0.4307 swing low to the $0.4547 high reveal a possible consolidation period. On the plus side, bulls still have a great obstacle to overcome: opposition close to the $0.4550 level. Maintaining momentum requires constant observation of the crucial level indicated by the optimistic trend line support at $0.4390.
Recent XRP performance points to a positive future where, should important resistance levels be broken, further gains might be expected.
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