XRP Price Dominates Crypto Market As Bitcoin And Ethereum Lag Behind

XRP price started a steady climb above $1.50, and the token is now consolidating those gains while eyeing further upside above the $1.520 zone.

The price is currently trading above $1.480 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $1.4580 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move higher if it settles above $1.520.

XRP Price Aims for Fresh Increase

XRP price launched a fresh upward move above $1.450 and $1.4650, keeping pace with Bitcoin and Ethereum. The price gathered momentum for a clear move above the $1.480 resistance, breaking above the bearish trend line at $1.4580 on the hourly chart. Bulls then pushed the price toward the $1.520 zone, forming a high at $1.5496 before the market settled into a consolidation phase. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $1.4109 swing low to the $1.5496 high.

The price is now trading above $1.480 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.50 level. The first major resistance is near the $1.520 level, above which the price could rise and test $1.5350. A clear move above $1.5350 resistance might send the price toward $1.550. Additional gains could push XRP toward $1.5740, with the next major hurdle for bulls near $1.5880.

Downside Correction?

If XRP fails to clear the $1.520 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.480 level and the 50% Fib retracement level of the upward move from the $1.4109 swing low to the $1.5496 high. The next major support sits near $1.4640. If there is a downside break and a close below $1.4640, the price might continue lower toward $1.450, with the next major support near $1.4350. A move below this zone could drag XRP toward $1.4120, with key support at $1.4050.

Technical Indicators

Hourly MACD — The MACD for XRP/USD is gaining pace in the bullish zone.

Hourly RSI — The RSI for XRP/USD is now above the 50 level.

Major support levels: $1.4800 and $1.4640.

Major resistance levels: $1.5000 and $1.5200.