{"id":645397,"date":"2024-09-30T13:02:57","date_gmt":"2024-09-30T13:02:57","guid":{"rendered":"https:\/\/wncen.com\/?p=645397"},"modified":"2024-09-30T13:02:57","modified_gmt":"2024-09-30T13:02:57","slug":"xrp-price-breaks-free-is-a-major-rally-underway","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-breaks-free-is-a-major-rally-underway\/","title":{"rendered":"XRP Price Breaks Free: Is a Major Rally Underway?"},"content":{"rendered":"
XRP price gained pace and was able to clear the $0.600 resistance. The price is up over 10% and is now consolidating gains near $0.6450.<\/em><\/p>\n
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XRP price started a fresh increase above the $0.600 resistance zone.<\/li>\n
The price is now trading above $0.6250 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key contracting triangle forming with resistance at $0.6500 on the hourly chart of the XRP\/USD pair (data source from Kraken).<\/li>\n
The pair could start a fresh increase if it clears the $0.6500 and $0.6550 resistance levels.<\/li>\n<\/ul>\n
XRP Price Settles Above $0.60<\/h2>\n
XRP price started a major increase above the $0.60 resistance, beating Bitcoin and Ethereum. The bulls were able to pump the price above the $0.6120 and $0.6250 resistance levels.<\/p>\n
It even broke the $0.650 resistance. A high was formed at $0.6642 and the price started a downside correction. There was a move below the $0.6550 and $0.6500 levels. The price tested the 50% Fib retracement level of the upward move from the $0.6082 swing low to the $0.6642 high.<\/p>\n
The price is now trading above $0.6250 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.650 level. There is also a key contracting triangle forming with resistance at $0.6500 on the hourly chart of the XRP\/USD pair.<\/p>\n