{"id":10409,"date":"2024-09-30T13:02:57","date_gmt":"2024-09-30T13:02:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=10409"},"modified":"2024-09-30T13:02:57","modified_gmt":"2024-09-30T13:02:57","slug":"xrp-price-breaks-free-is-a-major-rally-underway","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=10409","title":{"rendered":"XRP Price Breaks Free: Is a Major Rally Underway?"},"content":{"rendered":"

XRP price gained pace and was able to clear the $0.600 resistance. The price is up over 10% and is now consolidating gains near $0.6450.<\/em><\/p>\n

XRP price started a fresh increase above the $0.600 resistance zone.
\nThe price is now trading above $0.6250 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with resistance at $0.6500 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if it clears the $0.6500 and $0.6550 resistance levels.<\/p>\n

XRP Price Settles Above $0.60<\/h2>\n

XRP price started a major increase above the $0.60 resistance, beating Bitcoin and Ethereum. The bulls were able to pump the price above the $0.6120 and $0.6250 resistance levels.<\/p>\n

It even broke the $0.650 resistance. A high was formed at $0.6642 and the price started a downside correction. There was a move below the $0.6550 and $0.6500 levels. The price tested the 50% Fib retracement level of the upward move from the $0.6082 swing low to the $0.6642 high.<\/p>\n

The price is now trading above $0.6250 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.650 level. There is also a key contracting triangle forming with resistance at $0.6500 on the hourly chart of the XRP\/USD pair.<\/p>\n

<\/a><\/p>\n

The first major resistance is near the $0.6550 level. The next key resistance could be $0.6640. A clear move above the $0.6640 resistance might send the price toward the $0.6850 resistance. Any more gains might send the price toward the $0.700 resistance or even $0.720 in the near term.<\/p>\n

Are Dips Supported?<\/h2>\n

If XRP fails to clear the $0.650 resistance zone, it could continue to move down. Initial support on the downside is near the $0.6350 level. The next major support is near the $0.6285 level and the 61.8% Fib retracement level of the upward move from the $0.6082 swing low to the $0.6642 high.<\/p>\n

If there is a downside break and a close below the $0.6285 level, the price might continue to decline toward the $0.6120 support in the near term. The next major support sits at $0.600.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.6350 and $0.6285.<\/p>\n

Major Resistance Levels \u2013 $0.6500 and $0.6550.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price gained pace and was able to clear the $0.600 resistance. The price is up over 10% and is now consolidating gains near $0.6450. XRP price started a fresh increase above the $0.600 resistance zone. The price is now trading above $0.6250 and the 100-hourly Simple Moving Average. There is a key contracting triangle […]<\/p>\n","protected":false},"author":0,"featured_media":10410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10409"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10409"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/10410"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}