XRP price is currently facing resistance near $0.600. The price has been consolidating gains and could aim for a move above $0.5920 and $0.600. It remains supported near $0.5620 and is trading below $0.5850 and the 100-hourly Simple Moving Average. A rising channel with support at $0.5765 is forming on the hourly chart of the XRP/USD pair.
XRP price recently formed a base above $0.5600, starting a fresh increase similar to Bitcoin and Ethereum. After clearing the $0.5720 and $0.5850 resistance levels, it tested $0.5935 before correcting gains. The price dipped below $0.5850 and the 23.6% Fib retracement level of the upward move from $0.5602 swing low to $0.8932 high. Currently, it is below $0.5850 and the 100-hourly SMA.
On the upside, XRP might face resistance near $0.5850, $0.5920, and $0.600. A clear move above $0.600 could push the price toward $0.6065 and $0.6120. Further gains could lead to resistance at $0.6250 or $0.6320. On the downside, failing to clear $0.5850 could trigger another decline with initial support near $0.5765 and major support at $0.5680.
If there is a break and close below $0.5680, the price might decline towards $0.5600. Major support levels are at $0.5765 and $0.5600, while major resistance levels are at $0.5920 and $0.600. Technical indicators suggest the hourly MACD is gaining pace in the bearish zone, and the RSI is below the 50 level.
