XRP price rallied above $0.5550 and $0.560 levels, consolidating gains above $0.550 with potential for further gains. The price is trading above $0.550 and the 100-hourly Simple Moving Average. A bullish trend line is forming with support at $0.550 on the hourly chart.
XRP price remains well-supported above $0.5320, similar to Bitcoin and Ethereum. It started a fresh increase, clearing the key hurdle at $0.5420 and testing $0.5870. A sharp pullback followed, with support found above $0.550.
Key resistance levels are at $0.5660, $0.5720, $0.5850, and $0.600. On the downside, major support levels are $0.5550 and $0.5500. A downside break and close below $0.5500 could lead to further decline toward $0.5380 and $0.5250.
Technical indicators show the MACD losing bullish pace and RSI above 50, indicating a potential for more gains if support holds at $0.550.
