CandleFocus XRP Price Eyes Critical Upside Break: Is a Surge Imminent?
2024-09-18
Author: Content Editor
The XRP price is currently facing multiple obstacles near the $0.600 level. It is consolidating its recent gains and may attempt to break above the $0.5920 and $0.600 resistance levels. XRP formed a solid base above $0.5600 and began a fresh upward movement, similar to Bitcoin and Ethereum. It successfully surpassed the $0.5720 and $0.5850 resistance levels and even tested $0.5935. However, the price is currently correcting its gains and is trading below the $0.5850 level and the 100-hourly Simple Moving Average. There is a key rising channel forming with support at $0.5765, along with the 50% Fib retracement level. On the upside, the price may encounter resistance at $0.5850, followed by $0.5920 and $0.600. If it fails to break above the resistance zone, the price could experience another decline with initial support at $0.5765 and the next major support at $0.5680.
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