XRP is exhibiting a bullish trend above its $0.5350 support zone. The cryptocurrency is trading above $0.5400 and the 100-hourly Simple Moving Average, indicating potential upward momentum. A key bullish trend line forms with support around $0.5450 on the hourly chart of the XRP/USD pair.
The price may face resistance at $0.5580, but a successful break above $0.5550 could lead to further advances, potentially reaching the $0.5720 resistance, and even $0.5800 and beyond in the near term. A challenge lies at the $0.6000 level, marking a significant resistance zone.
Nonetheless, if XRP fails to surpass the $0.5580 resistance, it may reverse direction, starting with initial support near $0.5500. Further decline could target the $0.5450 support and possibly dip to $0.5350 if the downtrend continues. Major support at $0.5220 provides additional fallback.
Technical indicators like the MACD show bullish momentum, and the RSI is above 50, corroborating a positive outlook, while key support levels stand at $0.5450 and $0.5350, with major resistance at $0.5580 and $0.5650.
