{"id":1235,"date":"2024-08-27T04:58:16","date_gmt":"2024-08-27T04:58:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=1235"},"modified":"2024-08-27T04:58:16","modified_gmt":"2024-08-27T04:58:16","slug":"xrp-price-flashes-breakout-signal-are-short-term-gains-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=1235","title":{"rendered":"XRP Price Flashes Breakout Signal: Are Short-Term Gains Coming?"},"content":{"rendered":"

XRP price is attempting a fresh increase from the $0.5785 support zone. The price could gain bullish pace if it clears the $0.60 resistance.<\/em><\/p>\n

XRP price is eyeing a fresh increase from the $0.5785 level.
\nThe price is now trading below $0.600 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance at $0.590 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could gain momentum if it clears the $0.600 and $0.6050 resistance levels.<\/p>\n

XRP Price Aims Steady Increase<\/h2>\n

XRP price extended its decline below the $0.5920 support. It tested the $0.5785 zone. A low was formed at $0.5788 and the price is now attempting a fresh increase unlike Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move above the $0.5850 and $0.5880 levels. The price cleared the 23.6% Fib retracement level of the downward move from the $0.6306 swing high to the $0.5788 low. Besides, there was a break above a connecting bearish trend line with resistance at $0.590 on the hourly chart of the XRP\/USD pair.<\/p>\n

The price is still trading below $0.600 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.600 level. The first major resistance is near the $0.6020 level.<\/p>\n

The next key resistance could be $0.6050 or the 50% Fib retracement level of the downward move from the $0.6306 swing high to the $0.5788 low. A clear move above the $0.6050 resistance might send the price toward the $0.6160 resistance.<\/p>\n

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

The next major resistance is near the $0.6250 level. Any more gains might send the price toward the $0.6350 resistance or even $0.650 in the near term.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.60 resistance zone, it could start another decline. Initial support on the downside is near the $0.5850 level. The next major support is at $0.5785.<\/p>\n

If there is a downside break and a close below the $0.5785 level, the price might continue to decline toward the $0.550 support in the near term. The next major support sits at $0.5320.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bearish 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 $0.5850 and $0.5785.<\/p>\n

Major Resistance Levels \u2013 $0.6000 and $0.6050.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price is attempting a fresh increase from the $0.5785 support zone. The price could gain bullish pace if it clears the $0.60 resistance. XRP price is eyeing a fresh increase from the $0.5785 level. The price is now trading below $0.600 and the 100-hourly Simple Moving Average. There was a break above a connecting […]<\/p>\n","protected":false},"author":0,"featured_media":1236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1235","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\/1235"}],"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=1235"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/1236"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}