XRP Has Increased By 50%! Ripple (XRP) Price Could Go Further, According to Master Analyst.
Ripple started a strong rally after breaking above $ 0.300 against the US dollar. XRP price rose above 50% and even pushed the $ 0.500 barrier into a positive zone.
Ripple began a strong rise after a break above $ 0.300 and $ 0.400 against the US dollar. The price is currently trading well above $ 0.500 and the 100-day simple moving average. There was a break above a major bearish trend line with resistance around $ 0.5000 on the daily chart of the XRP / USD pair, according to veteran analyst Aayush Jindal. The pair will steadily rise towards the $ 0.650 and $ 0.680 resistance levels in the near term.
XRP Price Increased by 50%
After consolidating above the $ 0.240 level for a few days, Ripple ‘s XRP started to rise strongly. There was a clear break above the $ 0.300 resistance zone and opened the doors for a strong rise. There was a 50% rally in XRP, and the price cleared many hurdles , starting at $ 0.400 ( outperforming Bitcoin and Ethereum ). There was a break above a major bearish trend line with resistance around $ 0.500 on the daily chart of the XRP / USD pair.
The pair is currently trading well above $ 0.500 and is in the 100-day simple moving average. The first significant resistance is near the $ 0.642 level. The next major resistance is near the $ 0.680 zone, where the bulls could test the $ 0.750 resistance level in the near term. A moderate resistance could be near the $ 0.728 level.
Will there be a decline?
If XRP starts a downside correction, it is likely to remain stable around $ 0.5500. The first major support is near the $ 0.5200 level. The main support could be near the $ 0.500 level and the breaking trend line. If the price does not stay above $ 0.500, there could be a downside extension towards the $ 0.400 support zone.
At the time of writing, XRP was trading at $ 0.591.
- Daily MACD: The MACD for XRP / USD is gaining momentum in the bullish zone.
- Daily RSI (Relative Strength Index): The RSI for XRP / USD is currently well above the 60 level and is showing overbought conditions.
- Major Support Levels: $ 0.550, $ 0.520 and $ 0.500.
- Major Resistance Levels: $ 0.600, $ 0.642 and $ 0.680.