The technical indicators are aligned for potential further upside if XRP/USDT holds above the key support levels. A breakout above Supply Zone #1 would confirm the bullish scenario on this 1 hour timeframe.
1 Hour Timeframe:
The Short-Term Trend is Up
- The price is currently in an uptrend, with higher highs and higher lows being formed on the 1 hour chart.
Key Support Levels
- Strong support at the 0.50 Fib retracement level of 0.6230. Holding above this level signals buying demand.
- Another support zone is Demand Zone #1 from 0.6124 to 0.6083. This lines up with support from the 0.618 Fib level at 0.6188.
Key Resistance Levels
- Immediate resistance at Supply Zone #1 from 0.6498 to 0.6415. A break above this zone could trigger further upside.
Bullish Price Action
- There is a Bullish Fair Value Gap #1 between 0.6143 to 0.6124 that, if filled, would add confidence to the uptrend.
Scenario Analysis
- A close above Supply Zone #1 at 0.6415 would be a bullish sign and could lead to a continuation of the current uptrend.
- Conversely, a breakdown below Demand Zone #1/0.618 Fib support at 0.6188 could put the short-term trend at risk.
Fibonacci Retracement Levels
0.382 | 0.6271 |
0.50 | 0.6230 |
0.618 | 0.6188 |
0.786 | 0.6130 |
0.882 | 0.6096 |
Supply Zone
Zone Number | High | Low |
Supply Zone #1 | 0.6498 | 0.6415 |
Demand Zone
Zone Number | High | Low |
Demand Zone #1 | 0.6124 | 0.6083 |
Fair Value Gaps / Imbalances
FVG Number | High | Low |
Bullish FVG #1 | 0.6143 | 0.6124 |