{"id":3038,"date":"2024-09-03T04:28:07","date_gmt":"2024-09-03T04:28:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=3038"},"modified":"2024-09-03T04:28:07","modified_gmt":"2024-09-03T04:28:07","slug":"xrp-price-eyes-0-60-can-it-pick-up-the-pace","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=3038","title":{"rendered":"XRP Price Eyes $0.60: Can It Pick Up the Pace?"},"content":{"rendered":"

XRP price started a recovery wave from the $0.5440 zone. The price is now eyeing more gains above the $0.5720 resistance zone in the near term.<\/em><\/p>\n

XRP price started a decent increase from the $0.5400 zone.
\nThe price is now trading above $0.5620 and the 100-hourly Simple Moving Average.
\nThere was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could climb higher toward the $0.600 zone if it clears the $0.5720 resistance zone.<\/p>\n

XRP Price Starts Recovery<\/h2>\n

XRP price extended losses like Bitcoin<\/a> and Ethereum<\/a>. The price even tested the $0.5440 zone before the bulls appeared. The price started a recovery wave and was able to climb above the $0.5550 resistance zone.<\/p>\n

Besides, there was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP\/USD pair. There was a clear move above the $0.5650 resistance. Finally, it retested the $0.5720 resistance zone.<\/p>\n

A high was formed at $0.5718 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $0.5440 swing low to the $0.5718 high.<\/p>\n

The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.570 level. The first major resistance is near the $0.5720 level. The next key resistance could be $0.5850. A clear move above the $0.5850 resistance might send the price toward the $0.600 resistance.<\/p>\n

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

The next major resistance is near the $0.6060 level. Any more gains might send the price toward the $0.6150 resistance or even $0.620 in the near term.<\/p>\n

Another Decline?<\/h2>\n

If XRP fails to clear the $0.5720 resistance zone, it could start another decline. Initial support on the downside is near the $0.562 level. The next major support is at $0.5580 or the 50% Fib retracement level of the upward move from the $0.5440 swing low to the $0.5718 high.<\/p>\n

If there is a downside break and a close below the $0.5580 level, the price might continue to decline toward the $0.5440 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 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 $0.5580 and $0.5440.<\/p>\n

Major Resistance Levels \u2013 $0.5720 and $0.5850.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price started a recovery wave from the $0.5440 zone. The price is now eyeing more gains above the $0.5720 resistance zone in the near term. XRP price started a decent increase from the $0.5400 zone. The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. There was a break above a […]<\/p>\n","protected":false},"author":0,"featured_media":3039,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3038","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\/3038"}],"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=3038"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/3038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/3039"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}