XRP price is showing signs of bullish momentum as it rises above $0.580. The price could gain further if it surpasses the resistance levels at $0.5920 and $0.600. Supported near $0.5700, XRP is now trading above the 100-hourly Simple Moving Average, having broken above a key bearish trend line at $0.5720.
XRP's price has managed to clear previous resistance levels at $0.5720 and $0.5850, and is consolidating near the 76.4% Fib retracement level. The next resistance levels to watch are $0.5880, $0.5920, and $0.600. Clearing these might push the price toward $0.6160 and higher.
If XRP fails to clear the $0.5920 resistance, another decline could start, with initial support near $0.580 and the 100-hourly SMA. Breaking below $0.5690 could lead to further declines toward $0.5620 and $0.5550.
Technical indicators suggest bullish momentum with the MACD gaining pace and the RSI above the 50 level. Key support levels are $0.5820 and $0.5790, while resistance levels are $0.5920 and $0.6000.
