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XRP price started a steady increase above the $1.150 zone and is currently trading above $1.160 and the 100-hourly Simple Moving Average. A bullish trend line is forming on the hourly chart of the XRP/USD pair, with support around $0.140. The next upside path depends on whether XRP can hold above key levels and settle above $1.20.
XRP began a fresh upward move above $1.1450 and $1.150, similar to the broader market move seen in Bitcoin and Ethereum. The price gained momentum after pushing through the $1.1680 resistance and advanced toward the $1.1880 zone.
A high was formed at $1.1926, after which XRP entered a consolidation phase above the 23.6% Fibonacci retracement level of the move from the $1.0879 swing low to the $1.1926 high. The price is now trading above $1.180 and the 100-hourly Simple Moving Average.
If XRP continues higher, it may encounter resistance near $1.1920. The first major resistance is around $1.1950. If the price rises above $1.20, it could test $1.2150.
Further gains may extend toward $1.2220, while the next major hurdle for the bulls is near $1.2250.
If XRP fails to clear the $1.20 resistance zone, it could start a fresh decline. Initial downside support is near $1.1680, followed by major support around $1.1550.
Should there be a downside break and a close below $1.1550, the price may decline toward $1.1400, the trend line, and the 50% Fibonacci retracement level of the move from the $1.0879 swing low to the $1.1926 high. The next major support sits near $1.1280, and below that the price could move toward $1.1120. The main support is cited at $1.080.
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