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{"id":643299,"date":"2024-09-20T04:28:46","date_gmt":"2024-09-20T04:28:46","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=643299"},"modified":"2024-09-20T03:54:39","modified_gmt":"2024-09-20T03:54:39","slug":"xrp-price-battles-resistance-0-60","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/analysis\/xrp\/xrp-price-battles-resistance-0-60\/","title":{"rendered":"XRP Price Battles Resistance Around $0.60: Will the Struggle End?"},"content":{"rendered":"

XRP price is attempting an upside break above $0.5920. The price could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels.<\/em><\/p>\n

\n
XRP price started another increase toward the $0.600 zone.<\/li>\n
The price is now trading above $0.5780 and the 100-hourly Simple Moving Average.<\/li>\n
There was a break below a connecting bullish trend line with support at $0.590 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n
The pair could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels.<\/li>\n<\/ul>\n
XRP Price Eyes More Upsides<\/h2>\n
XRP price remained well-supported above $0.5700 and started a fresh increase like Bitcoin<\/a> and Ethereum<\/a>. The price was able to clear the $0.580 and $0.5850 resistance levels.<\/p>\n
The bulls even pushed the price above the $0.5920 resistance zone. However, they failed to push the price toward $0.60. A high was formed near $0.5941 and recently there was a downside correction. The price dipped below the $0.5880 support level.<\/p>\n
There was a move below the 23.6% Fib retracement level of the upward move from the $0.5622 swing low to the $0.5941 high. However, the bulls are active near the $0.5780 support.<\/p>\n
The 50% Fib retracement level of the upward move from the $0.5622 swing low to the $0.5941 high is acting as a support. The price is now trading above $0.5780 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5880 level.<\/p>\n
$\"XRP$ <\/a>
Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The first major resistance is near the $0.5920 level. The next key resistance could be $0.600. A clear move above the $0.600 resistance might send the price toward the $0.6160 resistance. Any more gains might send the price toward the $0.6250 resistance or even $0.6350 in the near term.<\/p>\n
Another Drop?<\/h2>\n
If XRP fails to clear the $0.5880 resistance zone, it could start another decline. Initial support on the downside is near the $0.5780 level and the 100-hourly Simple Moving Average. The next major support is near the $0.5740 level.<\/p>\n
If there is a downside break and a close below the $0.5740 level, the price might continue to decline toward the $0.5650 support in the near term. The next major support sits at $0.560.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $0.5780 and $0.5740.<\/p>\n
Major Resistance Levels \u2013 $0.5920 and $0.6000.<\/p>\n","protected":false},"excerpt":{"rendered":"
XRP price is attempting an upside break above $0.5920. The price could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels. XRP price started another increase toward the $0.600 zone. The price is now trading above $0.5780 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $0.590 on the hourly chart of the XRP\/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5920 and $0.600 resistance levels. XRP Price Eyes More Upsides XRP price remained well-supported above $0.5700 and started a fresh increase like Bitcoin and Ethereum. The price was able to clear the $0.580 and $0.5850 resistance levels. The bulls even pushed the price above the $0.5920 resistance zone. However, they failed to push the price toward $0.60. A high was formed near $0.5941 and recently there was a downside correction. The price dipped below the $0.5880 support level. There was a move below the 23.6% Fib retracement level of the upward move from the $0.5622 swing low to the $0.5941 high. However, the bulls are active near the $0.5780 support. The 50% Fib retracement level of the upward move from the $0.5622 swing low to the $0.5941 high is acting as a support. The price is now trading above $0.5780 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5880 level. The first major resistance is near the $0.5920 level. The next key resistance could be $0.600. A clear move above the $0.600 resistance might send the price toward the $0.6160 resistance. Any more gains might send the price toward the $0.6250 resistance or even $0.6350 in the near term. Another Drop? If XRP fails to clear the $0.5880 resistance zone, it could start another decline. Initial support on the downside is near the $0.5780 level and the 100-hourly Simple Moving Average. The next major support is near the $0.5740 level. If there is a downside break and a close below the $0.5740 level, the price might continue to decline toward the $0.5650 support in the near term. The next major support sits at $0.560. Technical Indicators Hourly MACD \u2013 The MACD for XRP\/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for XRP\/USD is now below the 50 level. Major Support Levels \u2013 $0.5780 and $0.5740. Major Resistance Levels \u2013 $0.5920 and $0.6000.<\/p>\n","protected":false},"author":67,"featured_media":643301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[3680,74937,10972,78763],"class_list":["post-643299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-ripple","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Price Battles Resistance Around $0.60: Will the Struggle End?<\/title>\n<meta name=\"description\" content=\"XRP price is attempting an upside break above $0.5920. 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