XRP surged higher than $0.70 while the bulls aimed higher with Ripple starting a fresh rally above the $0.6000 resistance zone against the US dollar with the price even breaking the $0.7000 and seemingly with more chances of more upsides as we can see more in our latest XRP news.
Ripple gained more strength after breaking the $0.5500 and the $0.6000 resistance against the dollar. The price is now trading above the $0.6500 and the 100 simple moving average with the major bullish trend line forming at the support of $0.6100 on the 4-hour charts of the pair. The XRP/USD pair could dip in the short-term but the bulls will remain active above $0.6000.
Over the past week, Ripple’s XRP started a strong increase above $0.6000 while ETH and BTC remained in a range with XRP forming a new support base above the $0.5000 before hitting a new resistance level of $0.6000. It broke plenty of hurdles near $0.6000 with the bulls pumping the price above the $0.7000 level. the new weekly high was formed near $0.7254 and the price is now trading above $0.6500 with the 100 simple moving average.
The initial support is close to the $0.6880 level and it is near the 23.6% fib retracement level from the upwards move of $0.5687 low to $0.7254 high with the next key support being near the $0.6400 level. The 50% fib retracement level from the upwards move at $0.5687 low to $0.7254 high is also close to $0.6400 with a new major bearish trend line forming near the support at $0.6100 on the 4-hour charts. On the upside, there’s another level that poses an immediate resistance with the next major resistance nearing the $7500 level. closing above it could set the pace for more gains in the next few sessions but the bulls could aim for $0.8000.
XRP surged higher but if it fails to clear the $0.7250 resistance it could start a new downside and the initial support is near the $0.6400. The first major support is also near the $0.6100 level with the main one nearing the $0.6000 level.
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