The post XRP Price Analysis: Bulls Aim Fresh Increase To $0.65 appeared on BitcoinEthereumNews.com.

XRP price is attempting a fresh increase above the $0.522 pivot level against the US dollar. The price is now trading above $0.540 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.5550 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase above the $0.565 resistance. XRP price is consolidating near $0.550 against the US Dollar, like Bitcoin. It must stay above the $0.540 support to start a fresh increase. XRP Price Analysis This past week, XRP price made another attempt to clear the $0.580 resistance against the US Dollar. The XRP/USD pair struggled to clear $0.580 and started a downside correction. There was a move below the $0.565 and $0.560 support levels. However, the bulls were active above the $0.540 support. A low has formed near $0.5400 and the price is now attempting a fresh increase. XRP is now trading above $0.550 and the 55 simple moving average (4 hours). There was a move above the 50% Fib retracement level of the downward move from the $0.5793 swing high to the $0.5400 low. On the upside, the price is facing resistance near $0.5655. The 61.8% Fib retracement level of the downward move from the $0.5793 swing high to the $0.5400 low is also near $0.5650. The next major resistance is near the $0.572 level. The first major resistance is near the $0.580 zone. A clear move above the $0.580 resistance zone might start a strong increase. In the stated case, the price could even surpass the $0.600 zone and test $0.620. Any more gains might send the price toward the $0.65 resistance. Initial support on the downside is near the $0.5550 level. There is also a key bullish trend…

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Filed under: News - @ February 19, 2024 3:22 am