XRP Moves Higher – Approaching Resistance That Could Decide Next Trend

XRP price is attempting a recovery wave above the $2.850 ￰0￱ price now faces a couple of key hurdles near $2.920 and $2.950. XRP price is slowly moving higher above the $2.850 support ￰1￱ price is now trading above $2.850 and the 100-hourly Simple Moving ￰2￱ is a connecting bullish trend line forming with support at $2.8320 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $2.920. XRP Price Faces Resistance XRP price started a recovery wave after it found support above $2.720 and $2.770, like Bitcoin and ￰3￱ price was able to surpass the $2.80 and $2.850 resistance ￰4￱ was a clear move above the 61.8% Fib retracement level of the downward wave from the $2.995 swing high to the $2.70 ￰5￱ bulls even pushed the price toward $2.920 before they faced resistance.

Besides, there is a connecting bullish trend line forming with support at $2.8320 on the hourly chart of the XRP/USD ￰6￱ price is now trading above $2.850 and the 100-hourly Simple Moving ￰7￱ the upside, the price might face resistance near the $2.925 level or the 76.4% Fib retracement level of the downward wave from the $2.995 swing high to the $2.70 ￰8￱ first major resistance is near the $2.950 level. A clear move above the $2.950 resistance might send the price toward the $3.00 ￰9￱ more gains might send the price toward the $3.050 ￰10￱ next major hurdle for the bulls might be near $3.120. Another Decline? If XRP fails to clear the $2.920 resistance zone, it could start a fresh ￰11￱ support on the downside is near the $2.850 ￰12￱ next major support is near the $2.8320 level and the trend ￰13￱ there is a downside break and a close below the $2.8320 level, the price might continue to decline toward $2.770.

The next major support sits near the $2.720 zone, below which the price could continue lower toward $2.650. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish ￰14￱ RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 ￰15￱ Support Levels – $2.8320 and $2.770. Major Resistance Levels – $2.920 and $2.950.