XRP Price Signals Positive Bias

XRP is showing positive signs above $0.500 and $0.5150. To gain bullish momentum, the price must settle above the 50-day simple moving average (blue) and $0.5760.

XRP price is showing positive signals above the $0.500 and $0.5150 levels. To gain bullish momentum, the price must close above the 50-day simple moving average (blue) and $0.5760 levels.

XRP Price Signals Show Positive Trend

After a downward extension, XRP price found support near the $0.4880 zone. A low was formed near $0.4870 and the price started to rise. There was a decent upward move above the $0.500 and $0.5120 resistance levels.

After Trump's victory, Bitcoin and Ethereum gained bull momentum, which led to some bull moves in XRP. The price crossed a key downtrend line with resistance at $0.5180 on the daily chart and climbed above the 23.6 Fibonacci retracement level of the downward move from the $0.6660 swing high to the $0.4870 low.

XRP price appears to be gaining momentum and attempting a close above the 50-day simple moving retracement (blue). The price must surpass the $0.5650 level to continue higher.

The next major hurdle lies near the $0.5760 level, or the 50 Fibonacci retracement level of the downside move from the $0.6660 swing high to the $0.4870 low. The first major resistance could be $0.5980. A convincing move above the $0.5980 resistance zone and the close could send the price towards the $0.6240 level.

Further gains could open the doors for a test of $0.6660. The next major pivot zone is $0.6800, above which the price could rise and test $0.7000.

Another Rejection?

On the other hand, XRP price may not overcome the $0.5760 resistance zone and may react downwards. An immediate support is near the $0.5400 level. The first major support is at $0.5250. A downside break below the $0.5250 support could spark a decline towards the $0.500 support.

The next major support is near the $0.4880 level, below which the price could test the $0.4650 support. Any further losses could send the price towards the $0.4500 level or even $0.4320.

Generally, XRP price is showing positive signals above the $0.500 and $0.5150 levels. The price must close above the $0.5760 resistance in the coming sessions.

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