XRP price is showing positive momentum as it breaks above the $0.5050 support zone, currently trading over the $0.5220 mark and the 100-hourly SMA. A bullish trend emerges after breaking a bearish trend line at $0.5100 on the chart.
A 4% price climb is noted, supported above $0.4880, paving the way for fresh gains past the $0.5050 resistance level. A high is formed at $0.5368, and the price is consolidating above its 23.6% Fib retracement level.
The price may face resistance near $0.5350. Major resistance further resides at $0.5365 and $0.5450. Breaking these levels could push the price towards $0.5500 or possibly $0.5665 in the short term.
Alternatively, a failure to clear the $0.5350 resistance could prompt a decline. Initial downside support lies around $0.5250, followed by $0.5155. A break below $0.5155 could push XRP towards the $0.5050 support.
Technical indicators support a bullish outlook with the hourly MACD gaining pace and the RSI above 50. Major support and resistance levels guide potential price movements.
