XRP price initiated a new upward trend, surpassing $1.380 and $1.3880, mirroring the movements of Bitcoin and Ethereum. The price accelerated for a definitive breakout above the $1.40 resistance level. The bulls have pushed the price up toward the $1.4650 zone. A peak was established at $1.4664, leading the price into a consolidation phase. A slight dip occurred beneath the 23.6% Fibonacci retracement level of the upward movement from the $1.3510 swing low to the $1.46444 high.
The price is currently trading above $1.420, surpassing the 100-hourly Simple Moving Average. Additionally, a bullish trend line is emerging, with support positioned at $1.4220 on the hourly chart of the XRP/USD pair. Should a new upward trend emerge, the price could encounter resistance around the $1.4420 mark. The initial significant resistance stands around the $1.450 mark, beyond which the price may surge and approach $1.4650. A decisive breakout above the $1.4650 resistance could propel the price towards the $1.4840 resistance level.
Further gains could propel the price towards the $1.50 resistance level. The upcoming significant challenge for the bulls could be around $1.5150. If XRP is unable to break through the $1.4650 resistance zone, it may initiate a new downward trend. Initial support on the downside is positioned around the $1.4220 mark. The next significant support level is around $1.4080, coinciding with the 50% Fibonacci retracement of the upward movement from the $1.3510 swing low to the $1.46444 high.
If a downside break occurs and the price closes below the $1.4080 level, we could see a further decline toward $1.3880. The next significant support level is around the $1.3650 area, and if the price falls below this point, it may trend down further toward $1.350. The primary support level appears to be $1.3320.