XRP price has continued its upward movement, surpassing the $0.600 resistance level and showing signs of consolidation before a potential correction towards the $0.5850 support area. This indicates a bullish trend in the XRP/USD pair, with the price currently trading above both $0.5850 and the 100-hourly Simple Moving Average.
A key bullish trend line has formed on the hourly chart of the XRP/USD pair, indicating strong support at $0.5820. Despite a possible correction, the bulls are likely to defend the $0.5850 level, leading to a potential bounce back towards higher resistance levels.
The recent surge in XRP price has cleared the $0.60 hurdle, reaching a high of $0.6374 before a slight correction. The price is now above $0.600 and the 100-hourly Simple Moving Average, with a bullish trend line providing additional support at $0.5820. Resistance levels are seen near $0.620, $0.6350, and $0.6420, with further upside potential towards $0.650, $0.6550, and possibly $0.680.
However, if XRP fails to break above the $0.620 resistance, a downside correction could occur, with initial support at $0.600 followed by $0.5850 and the trend line. A close below $0.5850 might signal a further decline towards the $0.550 support level.
Technical indicators such as the MACD and RSI suggest a potential slowdown in bullish momentum, highlighting the importance of key support and resistance levels at $0.5850, $0.5500, $0.620, and $0.6350 for determining future price movements in XRP.
