XRP Price Moves Up, Traders Eye Break Above $1.42 Level

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Reason to trust How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. XRP price started a decent increase above $1.3850. The price is now consolidating gains and might aim for more gains above the $1.420 zone. - XRP price started a steady increase above the $1.40 zone. - The price is now trading above $1.40 and the 100-hourly Simple Moving Average. - There is a bullish trend line forming with support at $1.3920 on the hourly chart of the XRP/USD pair (data source from Kraken). - The pair could continue to move up if it settles above $1.420. XRP Price Aims for Fresh Gains $1.420 XRP price started a fresh upward move above $1.3880 and $1.3920, like Bitcoin and Ethereum. The price gained pace for a clear move above the $1.40 resistance. The bulls even pumped the price toward the $1.4120 zone. A high was formed at $1.4148, and the price started a consolidation phase well above the 23.6% Fib retracement level of the upward move from the $1.3460 swing low to the $1.4148 high. The price is now trading above $1.40 and the 100-hourly Simple Moving Average. Besides, there is a bullish trend line forming with support at $1.3920 on the hourly chart of the XRP/USD pair. If there is a fresh upward move, the price might face resistance near the $1.4150 level. The first major resistance is near the $1.420 level, above which the price could rise and test $1.4350. A clear move above the $1.4350 resistance might send the price toward the $1.450 resistance. Any more gains might send the price toward the $1.480 resistance. The next major hurdle for the bulls might be near $1.50. Downside Correction? If XRP fails to clear the $1.420 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3880 level. The next major support is near the $1.380 level and the trend line or the 50% Fib retracement level of the upward move from the $1.3460 swing low to the $1.4148 high. If there is a downside break and a close below the $1.380 level, the price might continue to decline toward $1.350. The next major support sits near the $1.3220 zone, below which the price could continue lower toward $1.3050. The main support could be $1.30. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.4000 and $1.3800. Major Resistance Levels – $1.4200 and $1.4500.

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