XRP Price Maintains Support—Can Bulls Push It Higher Again?

XRP price started a fresh increase and traded above the $3.40 zone.

The price is now consolidating gains and might aim for a fresh increase above the $3.550 zone.

XRP price started a fresh increase above the $3.420 zone.

The price is now trading above $3.450 and the 100-hourly Simple Moving Average.

There is a short-term bullish trend line forming with support at $3.480 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair could start another increase if it stays above the $3.350 zone.

XRP Price Eyes Fresh Increase XRP price started a fresh increase after it settled above the $3.350 level, beating Bitcoin and Ethereum .

The price was able to climb above the $3.50 resistance level.

The bulls remained in action and the price gained pace for a move above $3.550 barrier.

Finally, the price tested the $3.650 zone.

A high was formed at $3.660 and the price recently corrected some gains.

A low was formed at $3.425 and the price is now consolidating.

There was a move above the 50% Fib retracement level of the recent decline from the $3.650 swing high to the $3.425 low.

The price is now trading above $3.450 and the 100-hourly Simple Moving Average.

There is also a short-term bullish trend line forming with support at $3.480 on the hourly chart of the XRP/USD pair.

On the upside, the price might face resistance near the $3.550 level or the 61.8% Fib retracement level of the recent decline from the $3.650 swing high to the $3.425 low.

The first major resistance is near the $3.60 level.

A clear move above the $3.60 resistance might send the price toward the $3.650 resistance.

Any more gains might send the price toward the $3.720 resistance or even $3.80 in the near term.

The next major hurdle for the bulls might be near the $4.00 zone.

Another Drop? If XRP fails to clear the $3.550 resistance zone, it could start another decline.

Initial support on the downside is near the $3.480 level.

The next major support is near the $3.420 level.

If there is a downside break and a close below the $3.420 level, the price might continue to decline toward the $3.350 support.

The next major support sits near the $3.320 zone.

Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

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

Major Support Levels – $3.420 and $3.350. Major Resistance Levels – $3.550 and $3.660..