• Is the XRP price poised to test the next resistance?

  • The XRP price has risen 7% in the previous 24 hours, changing the coin’s technical outlook to bullish. The XRP price had not done well in the previous week, but with the latest price spike, it has made up for its weekly loss.

    In the last week, XRP has lost only 2% of its market value.

    Despite the fact that other altcoins are struggling under bearish pressure, XRP has managed to show bullish feelings on its daily chart. Buyers appeared to have grown faith in the item.

    At the time of writing, the technical picture had also shifted toward bullish signs. Following a period of high selling strength, XRP is presently trading with increased purchasing strength.

    The price movement of Bitcoin continues to have an impact on the price movement of XRP.

    XRP is currently selling at a price that is 89% lower than its all-time high of $3.40. The worldwide cryptocurrency market cap is at $1 trillion, down 0.1% in the last 24 hours.

    One-Day Chart of the XRP Price

    At the time of writing, the altcoin was worth $0.35. Tight resistance awaits XRP at $0.38, where the altcoin has struggled for a much longer amount of time.

    Once XRP breaks through the previously indicated resistance, the altcoin may be able to return to the $0.44 level. Support for the coin, on the other hand, stood at $0.33.

    The XRP price is currently trading quite near that level. The amount of XRP traded in the previous trading session decreased, which could indicate that the number of purchasers has decreased at the time of writing.

    Technical Analysis

    At the time of writing, buyers appeared to have aided XRP in pushing prices higher. Technical indicators also suggested that buying power aided the altcoin’s comeback.

    The Relative Strength Index was above the half-line, indicating that buyers had taken control of the market’s price activity.

    The RSI, on the other hand, showed a little decrease, which could indicate that the number of existing buyers has decreased.

    The XRP price also broke through the 20-SMA line, indicating that there was a demand for the coin and that purchasers were pushing market price momentum.

    Buyers acted on the buy signal displayed by XRP on the daily chart, as indicated by its indicator.

    Convergence of Moving Averages Divergence experienced a bullish crossover and displayed green signal bars, indicating a buy signal for XRP.

    The MACD shows the asset’s price velocity and direction. The Stochastic RSI measures market momentum as well. The indicator was shown to be above its center line, indicating that the asset was going upward.

    What's your reaction?