XRP price initiated a new upward trajectory, surpassing the levels of $1.3880 and $1.3920, 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 $1.4120 zone. A peak was established at $1.4148, leading to a consolidation phase that remains significantly above the 23.6% Fibonacci retracement level of the upward movement from the $1.3460 swing low to the $1.4148 high.
The price is currently trading above $1.40, surpassing the 100-hourly Simple Moving Average. Additionally, a bullish trend line is emerging, with support positioned at $1.3920 on the hourly chart of the XRP/USD pair. If a new upward trend emerges, the price could encounter resistance around the $1.4150 mark. The initial significant resistance stands around the $1.420 mark, and if the price surpasses this level, it may advance to challenge $1.4350.
A decisive breakout above the $1.4350 resistance could propel the price towards the $1.450 resistance level. Further gains could propel the price towards the $1.480 resistance level. The upcoming significant challenge for the bulls could be around the $1.50 mark. If XRP is unable to break through the $1.420 resistance zone, it may initiate a new downward trend. Initial support on the downside is positioned around the $1.3880 mark.
The next significant support level is around $1.380, coinciding with the trend line and the 50%. Fibonacci retracement level of the upward movement from the $1.3460 swing low to the $1.4148 high. A downside break and a close below the $1.380 level could signal further declines, potentially pushing the price down to $1.350. The next major support sits near the $1.3220 zone, below which the price could continue lower toward $1.3050. The primary support level appears to be set at $1.30.