XRP Technical Data Shows Price Could Rally 10% If It Clears $0.26

XRP Technical Data Shows Price Could Rally 10% If It Clears $0.26

The XRP technical data shows that the price could rally by 10% if it manages to clear the $0.26 level as we are reading more in our latest ripple price news.

Ripple remained in a positive zone above the $0.2500 support against the US dollar as the price likely to rally further if it clears the main $0.2600 resistance after it started following a nice bullish path above the $0.2450 resistance against the US dollar. The price is now trading well above the $0.2500 and the 100 simple moving average with a major bullish trend line forming close to the support at $0.2550 on the 4-hour charts of the XRP/USD pair. The pair could rally 5% to 10% if it clears the main $0.2600 resistance n the near term.

xrp/usd
Source XRP/USD on TradingView.com

Over the past few days, there was a steady increase in Ripple above the $0.2450 resistance level as XRP settled above the $0.2500 resistance and the 100 simple moving average to move into the positive zone. The price even climbed above the $0.2550 level but the bulls are facing a strong resistance near the $0.2600 level so the recent high was formed close to the $0.2601 level and the price is now consolidating the gains.

The XRP technical data shows the initial support is close to the $0.2555 level but it is close to the 23.6% fib retracement level of the recent wave from the $0.2405 low to the $0.2601 high. There was a major bullish trend line as well forming with support close to the $0.2550 on the 4-hour charts of the pair. The next major support is close to the $0.2500 level with the mentioned support coinciding with the 50% fib retracement level of the recent wave at $0.2405 low to $0.2601 high.

xrp chart
XRP Chart (Source: Coingecko)

On the upside, the $0.2590 and the $0.2600 levels there are major hurdles with a successful close above the $0.2600 resistance could open the doors for another rally with the next major resistance for the bulls could be nearing the $0.2680 and the $0.2700 levels. If Ripple starts a downside correction with a trend line support at $0.2500 will act as strong support with key support is near the $0.2500 level. Further losses could lead the price at the $0.2450 or the 100 simple moving average with a risk of trend invalidation and a drop at the $0.2400 level.

The 4-hour MACD for the pair is about to move into the bullish zone. 4-hour RSI for the pair is now well above the 50 levels with positive signs. The major support levels are $0.2550, $0.2500 and $0.2450 with the major resistance levels are $0.2590, $0.2600, and $0.2700.