XRP price continued to rally above the $0.440 resistance zone. The price is showing positive signs and could rise further above the $0.4550 resistance level.

• XRP price is trying to break through the bullish wave above the USD 0.4400 zone.
• The price is currently holding above $0.440 and the 100-hour straightforward moving average.
• On the hourly chart of the XRP/USD pair, a key uptrend line is forming with support at $0.4390 (data source: Kraken).
• The pair could continue to rally if it closes above the USD 0.450 resistance level.

XRP price is heading up

XRP price remained in the positive zone above the $0.4250 level and extended its recovery wave, similar to Ethereum and outperformed Bitcoin. The price was able to rise above the $0.4320 and $0.4400 resistance levels.

The price even broke through the $0.4450 level and rose above $0.450. A high was formed at $0.4547 and the price is currently consolidating profits. There was a diminutive decline below the $0.4450 level. The price tested the 50% Fibonacci retracement level of the uptrend from the $0.4307 swing low to the $0.4547 high.

The price is now trading above $0.440 and the 100-hour straightforward moving average. Furthermore, there is a key bullish trendline forming with support at $0.4390 on the hourly chart of the XRP/USD pair. The trendline is near the 61.8% Fibonacci retracement level of the upside from the swing low of $0.4307 to the high of $0.4547.

On the other hand, the price is encountering resistance near the $0.4550 level. The first major resistance is near the $0.4620 level. The next key resistance could be $0.4650. A clear move above the $0.4650 resistance could take the price towards the $0.480 resistance. The next major resistance is near the $0.4880 level. Any further gains could take the price towards the $0.500 resistance.

Are DIPs supported?

If XRP fails to break through the $0.4550 resistance zone, it could begin a downward correction. Initial support on the downside is near the $0.4450 level.

The next major support is at $0.4390 and the trendline. If a break below the $0.4390 level occurs, the price could continue to decline towards the $0.4220 support in the near future.

Technical indicators

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

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

Major support levels – USD 0.4450 and USD 0.4390.

Major resistance levels – USD 0.4550 and USD 0.4800.