{"id":6170,"date":"2024-09-13T04:18:27","date_gmt":"2024-09-13T04:18:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=6170"},"modified":"2024-09-13T04:18:27","modified_gmt":"2024-09-13T04:18:27","slug":"xrp-price-breaks-out-and-surges-will-the-momentum-last","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=6170","title":{"rendered":"XRP Price Breaks Out and Surges: Will the Momentum Last?"},"content":{"rendered":"

XRP price rallied above the $0.5550 and $0.560 levels. It is now consolidating gains above $0.550 and might aim for more gains in the near term.<\/em><\/p>\n

XRP price gained pace for a move above the $0.550 resistance zone.
\nThe price is now trading above $0.550 and the 100-hourly Simple Moving Average.
\nThere is a new connecting bullish trend line forming with support at $0.550 on the hourly chart of the XRP\/USD pair (data source from Kraken).
\nThe pair could regain traction if it stays above the $0.550 pivot level.<\/p>\n

XRP Price Gains Momentum<\/h2>\n

XRP price remained well-supported above the $0.5320 level like Bitcoin<\/a> and Ethereum<\/a>. The price started a fresh increase and was able to clear the key hurdle at $0.5420.<\/p>\n

There was a surge above the $0.5550 and $0.5650 levels. The price even tested the $0.5870 zone. A high was formed at $0.5869 and the price started a sharp pullback. There was a move below the $0.5720 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5869 high.<\/p>\n

The price is now trading above $0.550 and the 100-hourly Simple Moving Average. There is also a new connecting bullish trend line forming with support at $0.550 on the hourly chart of the XRP\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $0.5234 swing low to the $0.5869 high.<\/p>\n

On the upside, the price might face resistance near the $0.5660 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 $0.5920 resistance.<\/p>\n

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

The next major resistance is near the $0.600 level. Any more gains might send the price toward the $0.6050 resistance or even $0.6120 in the near term.<\/p>\n

More Downsides?<\/h2>\n

If XRP fails to clear the $0.5660 resistance zone, it could start another decline. Initial support on the downside is near the $0.5550 level. The next major support is $0.5500.<\/p>\n

If there is a downside break and a close below the $0.5500 level, the price might continue to decline toward the $0.5380 support in the near term. The next major support sits at $0.5250.<\/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 $0.5550 and $0.5500.<\/p>\n

Major Resistance Levels \u2013 $0.5660 and $0.5720.<\/p>","protected":false},"excerpt":{"rendered":"

XRP price rallied above the $0.5550 and $0.560 levels. It is now consolidating gains above $0.550 and might aim for more gains in the near term. XRP price gained pace for a move above the $0.550 resistance zone. The price is now trading above $0.550 and the 100-hourly Simple Moving Average. There is a new […]<\/p>\n","protected":false},"author":0,"featured_media":6171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6170","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\/6170"}],"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=6170"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6171"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}