XRP price initiated a recovery wave above the $0.5320 level. Clearing $0.5480 and $0.550 resistance levels could accelerate gains. XRP currently trades above $0.5320 and the 100-hourly Simple Moving Average.
There is a bullish trend line forming, offering support around $0.5325. The price faces initial resistance at $0.5420.
The main resistance levels are $0.5480 and $0.550. A move beyond these levels might lead to targets like $0.5680 and $0.5720, with potential highs at $0.600.
If the $0.5420 resistance doesn’t break, XRP risks another decline. Key support levels are $0.5320 and $0.5220; a break below $0.5220 could see the price fall to $0.5080.
Key technical indicators: The Hourly MACD shows declining bullish momentum while the RSI stands above 50.
