XRP Price Stability Signals Opportunity – Is a Fresh Breakout on the Horizon?

XRP price started a fresh increase above the $3.050 ￰0￱ price is now correcting some gains and might find bids near the $3.020 ￰1￱ price is moving higher above the $3.00 support ￰2￱ price is now trading above $3.050 and the 100-hourly Simple Moving ￰3￱ is a bullish trend line forming with support at $3.040 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it clears the $3.120 ￰4￱ Price Holds Support XRP price remained support above $2.950 and started a fresh increase, like Bitcoin and ￰5￱ price climbed above the $3.020 and $3.080 ￰6￱ bulls even pushed the price above $3.120. A high was formed at $3.138 and the price is now correcting some ￰7￱ was a move below the $3.10 ￰8￱ price tested the 50% Fib retracement level of the upward move from the $2.9830 swing low to the $3.138 ￰9￱ price is now trading above $3.050 and the 100-hourly Simple Moving Average.

Besides, there is a bullish trend line forming with support at $3.040 on the hourly chart of the XRP/USD ￰10￱ the bulls protect the $3.050 support, the price could attempt another ￰11￱ the upside, the price might face resistance near the $3.10 ￰12￱ first major resistance is near the $3.120 level. A clear move above the $3.120 resistance might send the price toward the $3.20 ￰13￱ more gains might send the price toward the $3.2320 ￰14￱ next major hurdle for the bulls might be near $3.250. More Downside? If XRP fails to clear the $3.10 resistance zone, it could continue to move ￰15￱ support on the downside is near the $3.050 level or the 61.8% Fib retracement level of the upward move from the $2.9830 swing low to the $3.138 ￰16￱ next major support is near the $3.020 ￰17￱ there is a downside break and a close below the $3.020 level, the price might continue to decline toward $2.980.

The next major support sits near the $2.9150 zone, below which the price could gain bearish ￰18￱ Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish ￰19￱ RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 ￰20￱ Support Levels – $3.050 and $3.00. Major Resistance Levels – $3.10 and $3.120.