The post XRP Price Eyes $0.60: Can It Pick Up the Pace? appeared on BitcoinEthereumNews.com.

XRP price started a recovery wave from the $0.5440 zone. The price is now eyeing more gains above the $0.5720 resistance zone in the near term. XRP price started a decent increase from the $0.5400 zone. The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could climb higher toward the $0.600 zone if it clears the $0.5720 resistance zone. XRP Price Starts Recovery XRP price extended losses like Bitcoin and Ethereum. The price even tested the $0.5440 zone before the bulls appeared. The price started a recovery wave and was able to climb above the $0.5550 resistance zone. Besides, there was a break above a connecting bearish trend line with resistance at $0.5560 on the hourly chart of the XRP/USD pair. There was a clear move above the $0.5650 resistance. Finally, it retested the $0.5720 resistance zone. A high was formed at $0.5718 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $0.5440 swing low to the $0.5718 high. The price is now trading above $0.5620 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.570 level. The first major resistance is near the $0.5720 level. The next key resistance could be $0.5850. A clear move above the $0.5850 resistance might send the price toward the $0.600 resistance. The next major resistance is near the $0.6060 level. Any more gains might send the price toward the $0.6150 resistance or even $0.620 in the near term. Another Decline? If XRP fails to clear the $0.5720 resistance zone, it could…

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Filed under: News - @ September 3, 2024 5:12 am