XRP price is holding gains above the $0.5250 level and trading in a tight range. The cryptocurrency may soon attempt a move above the $0.550 resistance. Currently, XRP price is looking for a clear move above the $0.5420 resistance zone.
The price is trading above $0.5330 and the 100-hourly Simple Moving Average. The pair may gain bullish momentum if it clears the $0.5420 and $0.5450 resistance levels.
XRP remained well-supported above $0.5220. The price began a fresh increase within the range, clearing the $0.5320 resistance level. It climbed above the 50% Fib retracement level from the $0.5426 swing high to the $0.5234 low.
A break above a short-term bearish trend line with resistance at $0.5360 has also been observed. Currently, the price is facing resistance near the $0.5380 level or the 76.4% Fib retracement level of the mentioned downward move.
The first major resistance is near the $0.5420 level, and the next key resistance could be $0.5450. A clear move above $0.5450 may push the price toward the $0.5550 resistance, with subsequent resistances at $0.5640, $0.5800, and $0.5880.
However, failure to clear the $0.5420 resistance zone could initiate another decline, with initial support at $0.5330 and $0.5280. A downside break below $0.5280 may lead to $0.5220 and $0.5150 support levels.
The hourly MACD for XRP/USD is gaining pace in the bullish zone, while the RSI is above 50. Major support levels are $0.5330 and $0.5280, with major resistance levels at $0.5420 and $0.5450.
