The price of XRP has surged further above the $1.45 and $1.50 resistance levels. The price is currently consolidating gains near $1.40 and may seek further gains.

• XRP price has started a fresh rally above the resistance level at $1.40.
• The price is currently above $1,350 and the 100-hour straightforward moving average.
• A fresh connecting bearish trend line is forming on the hourly chart of the XRP/USD pair with resistance at $1,450 (data source from Kraken).
• The pair is showing positive signs and could extend its rally above the resistance at $1,450.

XRP Price Maintains Gains

XRP price has formed a base above $1,250 and started a fresh rally. There was a move above the resistance levels of $1.350 and $1.40. It even rose above the $1.50 level, beating out Ethereum and Bitcoin over the past two days.

A high was formed at $1.6339 before a pullback occurred. The price fell below the $1.50 support level. The lowest level was formed at USD 1.3007 and the price is currently rising. There was a move above the 23.6% Fib retracement level as part of a move down from the high at $1.6339 to the low at $1.3007.

The price is currently above $1.40 and the 100-hour straightforward moving average. On the other hand, the price may face resistance near the USD 1,420 level. The first major resistance is near the $1,450 level.

A fresh connecting bearish trend line is also forming on the hourly chart of the XRP/USD pair with resistance at $1,450. It is close to the 50% Fib retracement level for a move down from the high at $1.6339 to the low at $1.3007.

The next key resistance could be $1,500. A clear move above the $1.50 resistance could push the price towards the $1.5550 resistance. Further increases may push the price towards the resistance level of USD 1,620 and even USD 1,650 in the near future. The next major hurdle for bulls could be a price of $1.750 or $1.80.

Are dips circumscribed?

If XRP fails to break the resistance zone at $1,450, a downward correction may begin. Initial downside support is near the $1.3450 level. The next critical support is near the $1.320 level.

If there is a downside breakout and a close below the $1,320 level, the price could continue to fall towards the $1,300 support. The next major support is located near the $1,240 zone.

Technical indicators

Hourly MACD – The MACD for XRP/USD is currently gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently above the 50 level.

Major support levels – $1.4200 and $1.4000.

Major resistance levels – $1.4500 and $1.5000.